Looking back at the last 4 weeks of price action on the stocks we were watching to see how well we were able to interpret the charts. On the episode released on 10/30, we talked about TSLA, AMZN, DWAC and NKE. Let’s see how we did.

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Tesla

TSLA Chart

When Tesla caught our eye, it was ripping to new all time highs again, but we noticed the large gap it left behind on the run. Kyle briefly considered a short idea before abandoning it when Dan pointed out how well that’s worked for everyone else… We still want to see that gap fill, but we’d need to see the$990-980 area fail to hold first


Amazon

AMZN Chart

Dan spotted this one when seeing how well the price was bouncing around in the $3175-$3550 range. The idea was to wait for either level to fail before trying to jump onboard. It didn’t take long for the upper end to breach before ultimately failing to post a new high.


DWAC

DWAC Chart

DWAC was brought to our attention via a listener, which prompted a discussion on the similarities between SPACs and IPOs. Ultimately, Kyle and Dan decided against trying to trade this as it was still too new to apply technical analysis (the above chart is on the hourly, all the rest are daily). Kyle did consider shorting it for The Bet, but certainly didn’t want to put up any of his own money!


Nike

NKE Chart

Kyle brought NKE to the table when looking at how well the stock rallied from the dump into the mid $140s, forming a distinct V-bottom. Kyle wanted to see a break above $168 to see NKE push a new all time high, which is exactly what happened over the next week!


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