PIXY, watching for possible momentum play

[rexxxar]

What: Short DD based on available Objective data
Read: Scalp / Swing Trade

TLDR:
Free Float - 12.62M (trading volume at time of write up is 17.55M)
Options History from October 22 is primed to boost.
5 Days to Cover the Short Interest, waiting for Ortex to signal a possible Short Squeeze.

Resistances:
a) 1.4 - already broken
b) 1.7 - poked twice, 1.6 is proving to be the hard one right now…
c) 1.9 - poked once

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Long Version (still developing)

PIXY, Shiftpixy
Link: Our Story - ShiftPixy
About them: ShiftPixy combines the modern perks of the gig economy with traditional employment benefits.
Our app serves as an all-in-one workforce management platform for operators (aka, business owners) that rely on contingent employees. But it’s also a dynamic employment resource for shifters (aka, part-time workers) who want the freedom to make their own schedule.
Shifters can receive valuable benefits such as health insurance and workers’ compensation. Meanwhile, operators are able to rest easy knowing that they remain compliant with labor laws and free of time-consuming admin tasks.
ShiftPixy’s gig platform truly represents a new way to work.

*** Need to get my car from maintenance work. Will continue to observe After Hours volume.
*** Ortex usually updates by 7 or 8 AM.

Ortex snapshots… waiting for ALPHA signals…

Options History - October 22, 2021

IF you’re curious about Fintel data…
a) Insider Trades? No Sales so far.

b) Short Squeeze rank score

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FULL Disclosure:

• I only have minor exposure on this one, 100 shares at the 1.60 mark. LMAO I keep fomoing my own plays. fml
• Once again I plan to exit the trade at 35% gain overnight or more if momentum continues. Never a guarantee.

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*** DO NOT, and I repeat, NEVER, with strong emphasis, Do Not FOMO!
*** IF you consider playing this, plan your positioning, find a good entry. So far it’s still a slow moving target.
*** For Low Floats, I always use MACD + RSI and VWAP + EMA 20/50/100 or 20/60/120 on other charting tools.
*** I try to enter closer to the VWAP or even under, with RSI at low and MACD crossing up.
*** IF price already went parabolic, waiting for a pullback of 20-30% is a good idea.

Here’s the current 5min chart…

[HotPocketChris]

will be watching this closely. thanks for the dd!

[rexxxar]

my pleasure bud. yeah just watch for now.

[rexxxar]

Chart update at 6:12 AM…

Pivotal Resistances, per Barchart (IF per chance it breaks 1.75)

Barchart supporting data

Finally an Alpha Signal from Ortex!
It’s a Short Squeeze Type 3 confirmation, so I’ll be holding my position for a few more days til i see my greens (25-35% from my entry of 1.61).

[Castle]

Not sure about this company, but it seems like they setup a SPAC firm AXHU. Its probably why there is momentum on this firm.

[rexxxar]

That’s right. I read about that yesterday.
Put it on my SPACs watch list.

Update on my position: I managed to average down yesterday to 1.4 with 300 shares.

Update on 15min chart:
It’s wedged on that 1.33 support…

Pivotal Support Lines:

• 1.36 (broken, so this is now a resistance)
• 1.29
• 1.25

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How I will be playing this from this point on: Stop Loss Limit set at 1.25! Possible loss of $45.
a) IF and when it does deliver on that Short Squeeze signal, and show weakness, I’ll be exiting right away.
b) IF it goes beyond my original entry of 1.6, I might choose to hold until November.

Ortex update…

Obviously, shorts are covering. So this either gets a condensed buy-in volume, or it just fizzles out.
Be careful, manage your risks, and secure profits when (IF) you see it.

[rexxxar]

Update on my position:
I’m still holding my 300 shares at 1.433 average, after diving more into the details of this company.
They also appointed a new COO, news came out yesterday after hours.
Also, I might probably be hallucinating now, but I think this is mimicking PROG.
It depends on your sentiment whether or not that’s a good thing. lolz

Chart update:
Marking the 26th with the very 1st Short Squeeze Type 3 alpha signal from Ortex for this ticker.

• This is now the 3rd day since that alpha signal, and I expect the price to start consolidating in this 1.25-1.35 channel.
• No idea yet when the next price ramp up will happen, but if we look at PROG–it took 6 days.

Ortex SI update for reference:

Note that even though SI still needs 3.22 Days to Cover, there really isn’t much to squeeze anymore at only 2.26 estimate.
It is a Micro Float with only 12.62M Free Float, so keep that in consideration.

*** I could not help compare it with PROG because that’s another slow moving target for me.
Nonetheless, PIXY does not have the same popularity as PROG (whichever side you’re on). Hence volume is not the same.
This may or may not be a good thing depending on the coming days.

Exit plan update:
Moved my Stop Loss to 1.15, and will still exit this as soon as I see profit on the next peak.
After that, I won’t look at this again.

[rexxxar]

So, here we are, 6 Daily candles later…

As promised, I am out of my position and sold for little to no profit.
IF I didn’t want to use the capital for another play, I would most probably stick and see where it goes tomorrow Pre-Market–but I do prefer another play now.
That said, I will still count this as a successful test on the Ortex Short Squeeze Type 3 Alpha Signal.

Highest Price before the Short Squeeze signal, Oct 25: $2.0 at PreM, $1.75 Intraday
Lowest Price on alpha signal day, Oct 26: $1.33, -24% from 1.75.
Lowest Price before Short Squeeze day, Nov 2: $1.18 Intraday, which is -32% from 1.75.

Ideal Profit: 22%
What I got: 1%

I should really be more patient with these plays, since it’s been months now that I keep seeing -30% before the short squeeze happens. Keep that in mind too!

Key Takeaways:
- You have time to wait for a much better entry after the Alpha Signal comes out.
- Research more about the Company, get to work on the fundamentals. Scour the News and Events, check Management, look for their Debt to Profit ratio and other stuff on the Balance Sheet, all that shiz.
- Check the Daily Chart! Not the minutes charts, but the Daily Candles. This is important, especially if you’re planning to play Options.
- At the very least, wait for -25% or -30% below the previous Intraday high, before entering a position.

Flip Options, Overnight Shares–is a quick no-brainer strategy on these Short Squeeze Type 3 plays.

• You can start with a single (1) Share position to help track price, then enter at the ideal price.
• OR you can average down with shares.
• Shares will allow you to sell at in After Hour Market or Pre-Market hours, best with WeBull.
• Check the Options Chains for Calls and Puts strikes, look at the OI and IV. It should let you know if it’s even worth to play options or not.

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Thank you for following this thread! I hope to build another thread that will help maximize Short Squeeze signals from Ortex.

rexxxar out

[TheirWealth]

Thank you rex, love reading your stuff and learning from you regardless of the gains/losses. Appreciate it!

[rexxxar]

Thanks for the feedback, bud! Glad to share knowledge here.