I’m seeing a lot of fear and panic selling with HOLO trading near historic lows. I wanted to give an update about HOLO with key price levels to consider.
No Short Squeeze
Initially I entered HOLO due to GME and AMC’s hype surrounding RoaringKitty because HOLO is a great short squeeze candidate that also has manipulated pump and dumps from their shareholders. However, the short squeeze is off the table for GME, and is not likely to occur for HOLO.
Few Weeks of Bottoming Out
June is seasonally bullish but was a pretty bearish month for HOLO. August is the most bullish month with 100% ROI on average. I think HOLO is trading near all time lows, and has reached a key support level at the green trendline. This support level provides a price target around $0.86-$0.88. In previous bottoms HOLO traded sideways for a few weeks to bottom out before starting a rally. I think we could see a few weeks of sideways price action here with some dips to the green trendline around $0.86.
Size of the Bet
I will not give anyone financial advice or influence the size of your position. I noticed some of you YOLO’d like crazy with 35,000 shares, etc. Just keep in mind that small cap stocks are very sensitive to price fluctuations, so you should feel comfortable with the price swings. When you put a large position you will feel uneasy with significant drops. I took an approach of entering HOLO early in case if the price rallied early, and I bought enough shares where I genuinely do not care about the price swings. Either there is a strong rally or there is not.
Time Frame
I gave a clear time frame for August and discussed how August is the most bullish month with 100% ROI. This provides a backup plan because if HOLO doesn’t have a strong rally between June-August then there is still likely to be an opportunity to exit the trade in profit.
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