To The Moon

Hi everyone. Today I’ll be analysing a FinTech company: UP Fintech Holding Limited (NASDAQ: TIGR) TIGR has been basing for over 2 years between in a 3+ point range, with strong resistance at 5.80. When China announced a fresh round of quantitative easing measures in September, TIGR was a beneficiary of this news, and ripped above the 5.80 resistance that capped its upside for over 2 years. Since then, TIGR has been in a controlled selling phase back into prior resistance. The interesting thing is that most of the volume on it came at highs. This sell-off has been comparatively weak, and has not breached 5.80. If we look at more recent price action, TIGR actually found a short-term low at the 78.6% Fib retracement (not pictured here) at 5.87, taking the swing low of 3.39 and high of 14.48. It has also, for the time being, confirmed this trendline that formed during the initial run-up. If I consider TIGR from a risk standpoint, the maximum risk for now is the 5.80 prior resistance level. We could see a much larger drawdown if we close below this level. However, if we hold above 5.80, with quantitative easing measures set to kick in in November, then the likelihood of a fresh leg up comes into the picture. This time round, I am expecting the leg up to finally take us to the 15.87-16.02 gap. China is a “sucker punch” kind of play that can do nothing for significant periods of time, and have a few weeks of major gains. I think the current risk-to-reward favours bulls at least for the next few weeks. A basing pattern is usually not formed for nothing. We saw this kind of setup on PLTR. The journey was rough but it eventually broke above and formed new highs. TIGR may be a broken stock, but I don’t think it’s a broken company. There’s a difference. Upside Target: 15.87-16.02 Gap Fill Invalidation: Close below 5.80 prior resistance @TigerStars @TigerWire @TigerEvents @CaptainTiger @MillionaireTiger $Tiger Brokers(TIGR)$ $Futu Holdings Limited(FUTU)$ $Charles Schwab(SCHW)$ $Goldman Sachs(GS)$ $JPMorgan Chase(JPM)$