Potential Melt Up Fractals (Candidates / Setting Up)?

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Hey Jim!

How about this one? JCS looks like nesting meltup fractals and right about to reenter

Also, they’re giving a $3.50 per share special dividend at the end of September. Seems likely the price will continue to rise into the EMMUF

unless I did the charting wrong?? Take a look please!



Misfortune BAM. Option tag opens a search with limited tags and no entry endowment. @admin7676

SGOC looks like it’s fixing to do something

I was looking at this last week, the special dividend caught my attention too. The thing that scares me is that to pay for an acquisition they’re issuing shares to investors which they’re valuing at $3.40, which is why they’re issuing the dividend because they’re diluting current investor shares by doing this. From what I read they’re shares will nose dive after they dividend date of record.

BUT, now I’m interested again after seeing your chart~

the chart could be wrong Ian, thats why I asked for Jim’s opinion on it. Also, the dividend intrigues me, but the real value might be the run-up to the record date. if I can make 10$/share prior to the record date, Id probably just sell and not even collect the dividend. avoid that mess alltogether

I shared this in another discussion previously. $SDC appears to be on the verge of reentering a melt up fractal on its 1 hour chart as I write this on 9/24/2021 at about 8:15 EDT. The stock is currently sitting at almost 59% short interest (up from 48% one week ago) per Ortex this morning. Yesterday, it finally filled its gap down to $6.05. I am watching it for sharp upward move above in the event that a significant amount of shorts cover. A sharp move above $6.25 today would bring re-entry.

Disclosure: I have a long position in $SDC. Not financial advice.

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Gonna keep my eye on that one @scouch

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Totally with you, your play sounds like the right one. Interested to see Jim’s thoughts on the chart. I’ll keep an eye on JCS over the next few days. Good luck!

I got into JCS at 9.02 wednesday and sold today at 10.05
looking to renter. still bullish

Are we talking about Sdc or another ticker?

@scouch what are you thinking price-wise? On your analysis, i picked up some calls last week and it’s seems to be gaining a little momentum.

Not sure yet, to be honest, since this is sort of a test case for me. It needs to push past $6.30 today to reenter the EMMUF. After that, it meets resistance at about $6.55, and two more levels between $7.50 and $8.00. But, if it pushes hard past $8.00 this week, I am showing PMLs at about $12.96, $15.52, $18.24, $19.17, and about $22. An attack of the earliest speedline would take it past $28. So, if push comes to shove and we get a run of shorts covering this week, I think something in the teens is pretty reasonable. If not, then I think we will be hanging around between $6 and $7 in the short term until something breaks. I don’t see it breaking much lower at this point because the short positions are running out of ammo and retail traders have stepped up in the last couple of weeks.

(Not financial advise.)

wow, might need to roll mine out a week or two

I had $6.50 calls for last Friday that I rolled out. I like that strike price, but the timing is tricky on this one.

i bought a couple $6 calls that are ITM and expire friday. Any thoughts on how you’d play this?

correction: were ITM haha

If it were me, I would probably roll them out to the October monthlies after waiting until sometime tomorrow to see how this week is going. If a decent upward move comes today or early tomorrow, then I might reevaluate the premium cost to roll them out.

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thank you. Keep the $6 strike or also roll it up to say 7-8?

After watching the pinning last Friday, I wouldn’t move up to 7 or 8 on this. Your mileage may vary…

I am sitting on a handful of $18 calls for 10/15 as a cheap momentum play, but I would otherwise keep the strike low right now. Again, that’s just me.

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I really don’t like getting in the habit of including all of these that have fallen out of the bottom of the set up per point of origin low. If I can find some time in the future we’ll spend more time on these. I’m too busy now w/ AMC melt up and nasdaq crash set ups

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