I am learning to read stock and predict its future movements. Starting this weekly series of posts which might act as a reference, in the future, to see if the prediction was right or wrong.
This weeks stock I have taken up is THRY ( Thryv Holdings). Below is screen of THRV from trading view
Observation
The stock price bounced upwards after touching the EMA 50
MACD has crossed below signal line
There is a RSI divergence observed.
Prediction
Since there is a divergence in RSI and MACD cross over a minor downward movement is still expected till $31.5 where it might touch the EMA 50.
Once it touches the EMA 50 the price might see an upward movement again and could cross the recent peak.
Action
I am planning to buy the call option for November when the price is close to EMA 50 and better MACD pattern
Will comment if I actually end up buying the call option this week.
Since I am still learning the observations and predictions might be very simplistic. Please share your input in comments
First off the ticker is wrong. I believe it is THRY and I haven't really seen this stock before. It also looks like it came out a few years ago and has been on a straight path up.
At least from what I can see, the company seems solid as its making money and marketing will be used more in the future. However the chart itself doesn't really give me strong areas of support or resistances so I would be unclear as where it can retrace too if it does fall.
TLDR: It has pretty much skyrocketed up and can go up further but I think the risk/reward is a little out of my favor so I would avoid.
Posted Using LeoFinance Beta
Thank you @jfang003. Have corrected the ticker now. I believe it will reach 40+ in 2-3 months.