Jay, in his infinite wisdom, is sticking with his trusty dynamic duo of stocks - $MU and $NIO - for this month's rollercoaster ride. These stocks have been as reliable as his lucky Bitcoin socks that he wears while leverage trading crypto, and boy, have they provided some epic gains!
That's right, Jay is a true Crypto Degen as well as a Stock Trader - always on the hunt for the next big thing. So, he's keeping tabs on Crypto Related Stocks such as $MSTR, $COIN, and $BTBT.
Now, let's break it down and decode Jay's secret stock language:
- $MU - The Semiconductor Sorcerer:
Jay is rocking $MU in his dividend bag, and he's not planning to let it go until they reach new all-time highs. And, you know what? If the price gives him another chance to buy around $50 bucks, he's going all-in like a toddler in a candy store.
Plus, there's something fishy going on with the RSI (Relative Strength Index). Hidden bullish divergence? That's like finding a four-leaf clover in a sea of cabbage. And guess what? The RSI broke free from its multi-year resistance line - he says that is very bullish!
Let's hear from the man himself...
"$75 : this level has acted as support both in 2021 and 2022, before sending us to 95$+ : if we close a weekly candle above 75$ from here, that's bullish and will likely continue up higher (95$)
$65 : this level is the range high of a 1 YEAR re-accumulation range : if we drop and close a weekly candle below 65$ from here, that's bearish and will likely continue down lower (50$)
I have MU in my dividend bag, which I'm not planning to sell before we reach new all time highs, and to which I would add only if price comes down and gives another opportunity to buy around 50$
I'm also in a $MU swing long, where 75$ is the final target." -BTC Jay
- $BTBT - The Crypto Crusader:
Ah, $BTBT, the crypto star of the show! Jay is like a BTBT superfan, reciting stats and levels like he's cheering on his favorite sports team. They've got pivotal price levels like they're playing the stock market limbo - how low can you go?
But don't you worry, Jay's got a plan. He's got his eyes on that $3.97 support level like a hawk on a rabbit. This is due to this stock having an insane pump in the past at these levels back in July 2021 (420% in 2-3 weeks, noice).
Oh, but there's a twist! Jay sniffed out some bearish RSI divergence that's been brewing for two years. It's like a classic sitcom cliffhanger - will it go up, or will it go down? Tune in next week to find out!
-Just kidding!! We have bullish targets at $6.50, which was the late September 2021 Support Level now turned Resistance. Bearish targets will be $2, if we close below the $3.97 support.
- NIO - The Electric Enigma:
NIO, the electric vehicle titan, has Jay all excited. He's been spreading the bullish vibes like confetti at a party. Ever since they broke above $8.40, he's been pointing towards that $14 target like a traffic cop directing cars. Last week we blasted through that target.
But hold on tight, folks, because things are about to get thrilling. Jay's got his fingers crossed, hoping they won't close below that $14 mark. If they keep soaring like this, we might witness a rocket launch that would make NASA blush! If we don't close a weekly candle below $14 from here, there is room to run all the way to $20+ according to Jay.
However, Jay's got a backup plan for every scenario. He's found bearish RSI divergence lurking in the shadows. If we get a weekly candle close below $14 from here, we can see it fall back into the accumulation range in the $11.20 to $8.40 area.
So there you have it, dear readers! Jay's August Thesis is filled with twists, turns, and almost as much excitement as the Cardi B water incident lawsuit . Buckle up and hold on tight because this stock market adventure is just getting started. Let's see if Jay's predictions come true or if the stock market throws us a curveball!
For real time updates from Jay and our other Analysts as well as over 50 FREE Trading Classes going over the topics mentioned above: https://discord.gg/pennybois
Check out Jay's full Thesis (word for word): https://pennybo.is/JaysAugustThesis
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