Bullish Outlook for SE
Based on technical analysis
Sea Limited
If you believe in technical analysis, please continue reading; otherwise, feel free to skip this post. [Lovely]
Quoted from my previous post.
In my previous post for $Sea Ltd(SE)$
SE Daily Chart
On the daily chart for SE, a compelling pattern emerged following a strong breakout from the neckline of a double bottom formation. The price surged impressively, reaching as high as 44.96. This breakout was indicative of significant upward momentum in the stock.
However, as with any robust rally, it's common to observe moments of consolidation or retracement. In this case, the price retraced back to retest the 40.20 level, which served as the neckline of the double bottom pattern. This retracement was a healthy and expected development in the context of a bullish trend.
What's particularly noteworthy is the subsequent price action. After testing the 40.20 neckline, the stock exhibited a bounce, indicating strong buying interest at that level. This bounce is a positive sign for traders and investors, as it suggests that market participants continue to see value in SE shares at this price point.
From this perspective, the technical analysis suggests that the bullish outlook for SE remains intact. The bounce off the neckline reaffirms the potential for further upside in the stock's price. Traders and investors may interpret this as a signal to consider long positions or to hold existing positions with confidence.
Volume steadily decreasing.
A potential concern in this analysis is the consistent decrease in trading volume, which may indicate a lack of significant investor interest in the recent breakout. To strengthen the bullish outlook, it would be reassuring to witness a surge in trading volume over the next few days. Increased volume would serve as a validation of the positive price action, confirming that market participants are actively engaging with the stock and potentially driving further upward momentum.
SE Options
On a personal note, I'm contemplating the implementation of a sell put strategy as a means to capture some profits. At the moment, my consideration revolves around put options with an expiration date of November 24th and various strike prices, specifically 34, 35, or 36.
It's important to note that while technical analysis can provide valuable insights, the stock market is subject to various factors, and there are always inherent risks involved. It's advisable to conduct thorough research, employ risk management strategies, and consider your risk tolerance when making trading or investment decisions based on technical analysis.
Are you considering taking a trade on this stock? If so, I'd love to hear about your trading strategies and approach.
Sharing your insights and strategies can provide valuable perspectives for the tiger trading community. [Happy]
Disclaimer: The views expressed here are for informational purposes only and should not be considered as investment advice. Always conduct your research before making investment decisions. [Observation]
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$Amazon.com(AMZN)$
Modify on 2023-10-09 18:47
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Price is consolidating right now, with a break of minor structure to the upside last week. Depending on which FVG price fill first, until then it's good to stay out right now.
The breaking down. Run before it breaks 40. No buyers. No earnings, and no buys.
Nov SE earnings are crucial. Theres too many catalysts (Free Fire and Tik ban) for this not to rip.
SE bounced off a huge macro demand at 34-35, with a huge gap fill @ 54.