FUTU/N trade ideas
$FUTU - Inverted Head & Shoulders (D)So FUTU ended up selling off before earnings which was interesting because we are all use to a run up before earnings. On the Daily timeframe we see FUTU setting up an Inverted Head & Shoulders which is a bullish reversal pattern. If they do beat earnings and the sentiment is there, this can test ATH's and would make a great day trade tomorrow 3/16/2021. Premiums are expensive AF but they pay just as much.
$FUTU - I like this StockI have been shorting FUTU for the past week and I have to say that the relative strength on this stock is very strong. FUTU follows QQQ but in a more volatile and delayed way. This is great to know if you're scalping because if you see QQQ make a move down it takes a couple minutes for FUTU to follow. But also beware that FUTU bounces on support very hard. This is like Chinese Robinhood I heard not too sure but they ran up 300% in less than three months. This tells me as fast as they went up the faster they will fall. Especially with the overall market in the middle of a major correction. I have a PT of $112. If you see my QQQ chart you can see my PT for QQQ is around the same area as FUTU as they have similar movements. I cannot wait to be bullish on this stock because they will recover back to the $200 and even higher after new PT upgrades. Play the trend!
$FUTU going long$FUTU looking nice
CHART
Falling wedge
Horizontal support
Bullish pinbar
Good risk: Reward
RS Rating 99
Pull back to 5% Fib
Volume up +151%
FUNDAMENTALS
EPS Rating 84
Group RS Rating 84
SMR Rating A
Acc/Dis Rating A
Composite Rating 99
Timeliness Rating B
EPS last Qtr +999% Sales last QTR +276%
Fund ownership increasing
Mgmt owns 6%
2020 EPS est ^588% / 2021 EPS est ^73%
NOTE:
*** EPS due in 11 Days
Futu HIgh Tight FlagHigh tight flag chart pattern forms when a stock rises over 90% (preferably 100%) or more in two months, then consolidates sideways for 15-25 days with a decline of no more than 25%. When there's a breakout of the sideways 'flag' on high volume , the powerful uptrend often resumes.
The entry point is either as the stock breaks the high of the flag or breaks a downtrend line - but only ever on higher than average volume.
Negative is the erratic nature of the flag, would prefer to see more orderly action in the sideways consolidation. Positive is the declining volume in the flag and close adherence to the short term moving averages.
Looking for an entry on a break above the dotted line but only on a day with higher than average volume.
$FUTU Holdings Trade Setup
Awaiting a break above the Hourly Resistance Level.
Potential rally to POC at $181 in the short term.
Happy Trading
FUTU parabolic move coming to an end or moon?$Futu... very aggressive moving stock here, Chinese holding company that has gone parabolic, watching to see a continuation to retest ATH or a hard drop! Not a good long term stock imo, very volatile and only recommend going in this for short term swing or day trade. Expensive premiums and high IV on contracts, choppy movement or flat movement after hours will kill your premiums and contracts will lose value quick.
*side note* I have been busy with work and school and still have some personal things to handle this coming month but will be dropping some charts and affordable plays later. As of now the market looks bloody as we rotate to different sectors each week. Set watchlist by sectors and see where the money is going. Lots of strong company names (aapl, tdoc, sq, tsla) on sale and are at a great spot to add them to long term portfolios. It is safe to stay away from short term swings as there is lots of market uncertainty due to stimulus, memes, inflation, etc. Don't get burned trying to catch the bottom, sacrifice a little profit and wait for clear signs of reversal. Don't know signs of reversal? well now is your time to do some research on TA, FA, Market psychology and more. I will also be uploading more educational videos covering that as soon as I can!
$FUTU - fill the gap; patienceBuy area would be around $134, in my opinion.
There is a massive sweep worth over $1.2M for FUTU at $160 on March 19.
I cannot see them wanting to pay out the March 19 sweep and so it may be held down under the $160 mark (which is the strike for which the sweep was made).
If you enter around the gap fill ($134) it seems to be an area that is much safer.
The MM's want to give the $160 strike price holders hope, but not actually pay them out; and so my thesis of getting in around $134 (if possible) and riding up to $160 area (the area of hope) may work.
There are a couple scenarios that could play out here:
1. There are 12 large sweeps/blocks/split calls that expire today. Half of the call mega-buys are over $185 strike, so they will not pay out and the call issuers will be keeping that premium should the stock be held down below $185+ whatever premium they paid (which is unknown).
2. The $185 strike was a block of calls purchased on Feb 8 2021 and then on Feb 10 2021 a sweep for $220 strike ($1.8 million in premium) was purchased. So maybe someone knows this is going to turn parabolic today?
Let's see which way it goes
Pullback short for $FUTU @ 618% @ ABCD Supply See pullback to 618% level for short opportunity @abcd lvl
$FUTUwatching for this to move lower into the 78.6% fib retrace. Note that the daily slow stoch is moving down into 50 currently. $127 / $103 are ma levels to be watching as well
$FUTU - more blue skies?This maybe the dip to by
Break out is $110
Stop loss $100
Target - infinity, it is at ATH
So be a volume watcher
Why so down $FUTU? RISE UP!FUTU got dragged down along with the rest of the market.
If it bounces off of FIBO around $94 and flashes a BUY signal with at least 6 confirmations (8 is ideal), it'll continue it's upward trajectory.
Happy Trading, from CJ -- aka the greatest FURU.
To find out more about The Ultimate Stock Indicator on Tradingview, please check my public profile.
FUTU: Bullish pennantBullish Pennant
Pros:
Descending volume during formation
PPS above 50MA and 200MA
RS above 0, and ascending
ATR Ascending
R/R ratio above 11
200MA ascending
250RSI above 50
If confirmed:
PT = 189.32$
easy topping pattern for quick short or to cut long exposure , FUTU showing signs of weakness, long from 39 starting to see candles giving us hints, Straight from Steve Nisons Japanese Candlestick book easy short or opportunity to limit long exposure, 4hr ib too that snaps watch out
FUTU is hitting a target for wave 3 upFUTU is approaching a normal target for the strongest part of the rally, subwave C of wave 3 up.
I think we will see a wave 4 down in FUTU to 57 - 55.
CAT Trend Channels indicator caught several pullbacks to enter that bull run.
FUTU - China's 'Robinhood'.Happy New Year guys! Here's a stock pick that will give you a thick red packet come 2021. FUTU; The Robinhood of China, has recently broke out of a short-term downtrend. This can be a long-term play or a short-term play depending on how you see it.
FUTU is a long-term hold because of the increasingly affluent Chinese population. The Covid-19 crisis catalyzed an increase in retail investors globally this year and FUTU has become the platform of choice for many Chinese investors as of late. Additionally, with Hong Kong becoming a hotspot for more Chinese IPOs, I would only expect more Chinese/Hong Kong customers joining FUTU's trading platform to get a piece of the new hot stocks (past IPOs include Mingyuan Cloud, Nongfu Spring etc...). We can see this from FUTU's Total paying clients: at 115,000 (Q3 Earnings Report) - representing a 137% increase y-o-y. Additionally, their client retention rate is > 98% for the seventh straight quarter and their earnings grew by >500% y-o-y. Really impressive.
FUTU also represents a short-term swing with its recent break of a short-term downtrend, technical indicators are also looking to turn bullish as well!
