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DLPN: Sick runner today. Looking to fade the open look here – either gap up and open shove into 15+ to start looking short, or weak open that holds into the 11 area for continuation. No opinion either way right now, will let the action dictate which bias by morning.
DIDI: Starting some of this for a swing long soon. I think the regulatory stuff is just noise. China has accomplished their goal of showing their disdain and smacking this down post IPO. Didi is the clear leader in ride-sharing and the “Uber” of China, so I expect it to emerge as a good buy, and likely won’t see levels this low for long. If you want to be safe, maybe wait for a higher low on the daily, like a push back down into 8-9 area that holds for further confirmation, but either way I like it to begin it’s ascent higher soon. While China is upset with them, it’s unlikely they shoot their own people in the foot forever – Didi still provides tax dollars and a very important business to the country. This stuff will get ironed out, and that’s the only thing holding the stock back at the moment IMO, it’s very undervalued here at these levels regulatory issues aside.
EVK: Looking for any pops back mid 5s today, but could also see it just tanking. Either way I’m short bias tomorrow, hopefully higher the better first for a nice entry and then feels like a swing type to me, float back sub 4 in a few days.
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See you out there!
-D
👍
Thank you Dante, I like to reading your trade ideas