CLOV - SPACs are dead, but could this come back as a zombie?
- I like how well the range has been last few weeks. Despite huge sell-off in the growth names, this one has found bids.
- Personally, I am not a big fan of microcaps, but this one has my attention because of the business. Insurance names have reported big ERs and look strong. This is a new company trying to carve a niche in that space.
- Chart is setting up head and shoulder pattern. Breakdown below 1.97 could be ugly, yet volume profile doesn't indicate imminent breakdown.
- No reason to be bagholder by buying here. Watch for fake breakdown pattern before jumping in.
