I like the story and love the chart. We're hitting the bottom of its channel, the options flow looks good. This is a clearly defined risk to reward play. It's also a stock I plan on holding for a long time. You can start a long term position here and also trade it along the way.
Who is Opendoor?
Opendoor Technologies Inc is a digital platform for residential real estate. This platform enables customers to buy and sell houses online. It generates revenue through home sales, along with other revenue from real estate services.
Opendoor's mission is to empower everyone with the freedom to move. Since 2014, Opendoor has provided people across the U.S. with a radically simple way to buy, sell or trade-in a home. Opendoor operates in a growing number of markets across the U.S. and is headquartered in San Francisco.
I use the TTM Squeeze to see if there is a potential momentum play off of the channel. When the lower time frame squeeze start to fire, it can set off a chain reaction to the upper time frames. Once the daily squeeze fires, we can have 6-8 days of price movement up.
Options Flow courtesy of CheddarFlow