SKLZ Potential come back from bearish slide

Skillz, one of the leading management and prizing platform for online mobile games had enjoyed a wonderful bullish run after it made a huge gap-up accompanied with a huge volume of around 45M shares last Sep 2, 2020 until Feb 5, 2021. Sep 15, 2021 was the day when the 5 months offering of their Series E stocks had been closed. Those that had gotten early for the price target of $32.208 on that offering had made a very good killing, much more when it made a secondary gap-up from $32.00 to $43.00. Such a parabolic move can always result on a sudden pullback too. The rise to $43.00 had a pullback to $32.208 which was supposed to be the retest of that price target on the initial public offering of their series E stocks. It would have been a good pullback but it was drawn lower because on March 12, 2021 they released their 10K Security Filing bearing a 92% Revenue increase from 120M to 230M but on the other hand taking a considerable increase of Net loss from 24M to 122M.

Market Maker can always utilize this Net Loss as a catalyst to bring the stock down. Thus, on the 18th of March 2021, when they again made another public offering of their Class A stocks, the whole price move went dwindling down. This platform really looks promising, but big time investors are not willing to buy at the highly valued level. Much of the price support of this stock comes down to around $12.50 where you have 2 huge volume breakouts (July 16, 2020 and Sep. 2, 2020 where volumes had risen 7M and 45M shares. This is the price line that most of the Investors from the Series E stocks started accumulating. The same big time buyers are probably wanting to add more of their shares at the same price level where they had started accumulating. Market Maker sees all these and seizes the opportunity to shake up the apple tree so the retail investors would relinquish their shares and the Market Maker will have ample shares to give to these hungry buyers at this price level.

With the current (2020/04/21) candle formation of a bullish engulfing pattern accompanied with a huge volume of 76M engulfing also the 65M red volume of last March 19, 2021 bearish trade, it looked like there is a signal of a reversal from the price waterfall.

If you want to test your ability accelotrading against an AI on this particular stock. Please visit and sign-up with accelotrade.com. 

In PLAY Mode, Create a game called SKLZ_yourname, set the following information:
Game Type: Custom
Ticker Symbol: SKLZ 

Time Out: 3min
Duration: 50 days
Simulation Date: Dec. 17, 2020
The rest of the other information keep them as they are. 

Click on the Players tab and under Invited Players click on AI. Check all boxes if you want. Click Create after this setting.

You can also invite your friends and families to play along with you in this game.
This game might just help you understand more how to trade and react on Bullish engulfing candle situation.