TBI's Thoughts [21]: Tiger Brokers (NASDAQ: TIGR)... Awaken The Beast!

TBI
12-15

Hi everyone, it’s time for this week’s free newsletter! Today, I’ll be updating my TA on a brokerage firm:

UP Fintech Holding Limited (NASDAQ: TIGR)

TIGR made a massive move to the upside in September on the stimulus package announcement. As stock prices of Chinese equities rocketed, people rushed to open brokerage accounts to invest in their favourite Chinese stocks.

But, I digress. TIGR retested strong multi-year prior resistance between 5.50-5.80 from above on an extremely low volume pullback from the 14.48 October high, before reversing and breaking out from its downtrend on increased volume. The weekly Stochastic saw a bullish crossover, with continuation to the upside on watch for the next few weeks.

The daily chart also shows a descending channel consolidation that cumulated in a breakout. The daily Stochastic is nearing a bullish crossover, which sets up a move back towards the 10.32-11.28 bearish gap from the October highs.

In the long term, the picture is clear - TIGR is breaking out from a multi-year base, and I am expecting a Palantir (NASDAQ: PLTR)-style move towards new ATHs. The flow has been bullish despite the low-volume pullback, and the price should follow in due course.

Note that the bullish thesis is invalidated if TIGR loses 5.50.

Awaken the beast.

Upside PT: New ATHs

Invalidation: Break down and close below 5.50

$Tiger Brokers(TIGR)$ $Futu Holdings Limited(FUTU)$ $Robinhood(HOOD)$ $SPDR S&P 500 ETF Trust(SPY)$ $Apple(AAPL)$

@TigerWire @TigerStars @TigerEvents @CaptainTiger @MillionaireTiger

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Comments

  • JackQuant
    12-16 15:50
    JackQuant

    Let’s see if it can power through the gap and hit new ATH, bullish momentum seems solid. 🐯

  • BK99
    12-17 06:55
    BK99
    g ! Don’t waste time on historical data
  • Eva_nana
    12-16 11:08
    Eva_nana

    The future is bright! Expected income

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