HYLN - Possible big up move.

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There's a few things that are starting to shape up on this one.

Currenly it's bouncing around a support level it had back in July/August and it's consolidating here. The hard part is where this will go next. Its very close to the 200MA and I believe it's working on momentum to break through that resistence.


If we reference the TTM squeez indicator we can see that the pressure is downward but very weak. I thought it was good enough to add a small contract position at the $25 strike price. I would cut this for a loss if we broke the $17.92 hourly and we break the lower bollinger band. I would likely add more contracts if we bounce off either of these and are going to close above it. I'd add those contracts right at the bell and this scenario is likely today or tomorrow.

If the red bars on the far right go yellow then this trade is on and a big upward move is likely. We're within a couple of days of knowing what will happen.

TLDR: Sometimes stocks go up and sometimes they go down. 25c Jan & 25c April

TLDR: Cut early if the pattern breaks, go nuts deep if we see yellow bars. Scaling into this trade will minimize losses and maximize returns on confirmation.

The things going against this trade are the overall down trend of the market. Hence its important to wait or scale in light at this point with an acceptable SL based on your risk tollerance.

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EDIT - 2020-12-10


We may have found bottom as we slide into the wedge. I got TP hands so I'm going to wait till tomorrows sigal to add. Also nice long wicks on todays candle (3:34pm). Bulls are fighting over this being the bottom today. If it closes like this we may be in great shape for tomorrow.

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***EDIT 12-15 Update***


Its continued down a bit further than expected but this time for real it's gonna break the falling in the next 2 days. Potentially tomorrow.

**EDIT 12/17**

HYLN found the bottom and broke out of the wedge. Time to go long.