Oh man, i got ta make a video for this, because this is the stupidest story. You guys are gon na get a kick out of this story. Man, i'm excited to talk about this. What is up everybody welcome to trace trades.

We get technical analysis and different stocks in the stock market, as well as potential buy, hold or sell opinions on these. Given stocks, i'd like to purpose by saying that i'm a financial advisor and or expert so take it. I say the greatest salt, let's get into the video today. My friends, we've got a really weird update here on ticker symbol e-y-e-s.

This will be the first time that i've ever talked about this stock, and i want to preface by saying i do not recommend that you chase this stock. If you are going to touch this thing, scalp scalp, scalp day trade or swing trade. This. This is not an opportunity for you guys to chase this.

I'm not telling you that in fact, the story that i have to tell is going to be pretty freaking stupid, but uh we're going to talk about why this is running up so much. I do want to discuss this that we can, you know, just get some stuff off the table in case you're, not tracking. What's going on with ticker symbol e y e s uh, i'm not gon na clearly hold this as a long-term investment. I think this is a really big example of buy the hype, sell the news that got wrapped into a you already guessed, it short squeeze, which is insane.

You would not think this is a short squeeze potential stock. I do not think this is a short squeeze potential stock or something not even on my radar. I was day trading this right last couple days: anyways we're gon na get to the story more, but um, let's just get into the video, so we're gon na tell you that story in a little bit. First off.

I want to show you guys what the company does right. Why is there so much hype? Why why? Why, right? Why is this stock climbing, like this all right? Let's just take a quick peek. These guys are called second sight life in a new light, and essentially these guys got fda approval on a really cool product that they have. So if we pull up their news articles, real quick - and we just take a peek at the recent news on e-y-e-s uh dj's second sight - medical shares continue to rise after our goose 2's fda approval.

So we just checked this out right. Second sign medical products incorporated shares were up 50 to 863, which is now just the joke. After the company said friday, the us food and drug administration approved the argus 2 retinal prosthetic prosthetist sis. I can't even say that system a redesigned set of external hardware initially for use in combination with previously implanted argus ii systems for the treatment of retinous pigmentosa, which is insane right.

So if we come over here and just take a quick peek at what this is our artificial vision, technology has the potential to make this a reality for profoundly blind people around the world. So this is a way to actually, i wouldn't say, cure blindness, but create vision for for people who have really really poor vision, which is actually really really cool is his home for me. Uh second sight's legal league, a legacy product argus 2, approved by the fda for the treatment of retinas pigmentosa, has been implanted at 350 plus individuals worldwide, restoring functional artificial vision by renewing light perception and transforming the daily experience in the majority of individuals. This is sick.

If you guys have been watching the channel for a while, you know that i've got something called um bilateral anterior uveitis, which is a train wreck for me. Man like on and off on and off for the last two years, which is why i love agtc. So much as a long-term investment, i think they're gon na be able to do this right in a a slower fashion. I i didn't anticipate this sort of run-up.

In fact, i got completely lucky - i'm not gon na brag about this in the least bit. However, that's why i like companies like this, because it actually they're innovators, they're they're, disruptors right. This is actually you know, providing for a good future, but um how much this has run up so far right. We really don't want to chase this, so i'm just going to point out some different facts and stuff things that i think you might find interesting if in case you do want to invest in this long term, but i would wait for a pullback.

I would not invest right now, so what are we looking at for institutional ownership? 4.72 1.09 million shares out of the 23.1 million shares that exist currently in the market, which is a not a huge amount. They would like to see that a little bit higher, but what they've got going on with their with their company is just six so like, like i mentioned, their big thing is that our goose ii system, so creating artificial vision for people, that's a big deal, and Why is this stock running up so much well that news, combined with the fact that this is a crazy, crazy, heavily shorted stock, 82.5 million total short volume yesterday, which was 26 of the total market volume of 320 million and zero short share availability. As of an hour ago, so if you think this is a short squeeze potential gone right, it's not there's still zero total short shares available and they're still shorting this stock. However, i do not recommend that you buy into this just because i hold a position to tell you the truth, my friends after we get into this, i got so lucky.

The current utilization, 87.94 percent costs to borrow is 28 annually. So that's an annual interest rate that is accrued on e y e s, and that is a that's a lot. That's a lot of uh interest that is going to be slamming down on some of these short positions here and short short squeezes. Can last honestly a couple of days and man, i really wish that i would have looked into this more when i was when i was day trading yesterday, because i would have made a video before it ran up.

However, if you do want to scalp this, i do believe it's going to be a leading, leading, gapper and you're going to be able to do pretty dang well by by uh getting into the stock as a day trade. But i really do not. I urge you to be very careful. Don't touch this unless you're a true veteran investor, because you really really could easily get burned days to cover is pretty low.

However, you do need to keep in the back of your mind that the overall daily volume right that that uh days to cover is calculated by taking short interest divided by three month average volume. The volume was absolutely non-existent for pretty much forever since the last two days right so the last two days. This has changed a lot. You can't even look at the last two days and calculate anything out from that.

So you really do need to take that into the back of your mind when looking at days to cover that's why that number is pretty dang low right. So keep that in the back of your mind. But we had the perfect storm here. So i always say what you need for a short squeeze is a company that is heavily heavily shorted.

That's got great news, catalyst right that catches, people off guard because we can find a stock. That's got. You know 100 utilization, zero, total short share available, uh right, but that's not gon na matter. If it's a crap company right, you need a news catalyst to get people excited about it to get people to buy into it.

Uh, like amc like gamestop, like rocket mortgage like now eyes right, so these are all over the place, and i don't even think this is like a reddit meme stock that uh that ended up getting pushed. I think this is just the perfect storm. They had a great great news: catalyst come out talking about that argus 2 system, and now it is squeezing like you would not believe up from 11. What was the close yesterday in the after hours to a peak of 26.? What happened with me in this stock man i'll tell you that right now it was crazy.

I got extremely extremely lucky. I was day trading this yesterday and i woke up this morning. Thinking, oh my god. I don't think i closed out of e-y-e-s and i came back to my computer to see 650.

I ended up adding my position to be honest with you, but um 652 shares now and currently up 81. So i like, i said i take absolutely no credit for that. That was pure, pure luck right, and i really do urge you if you're gon na get into this there's a long-term investment, wait for it to pull back right. I would say, if you're gon na buy into this now to make sure that uh you take whatever gain you can get out of it right, whether it's on a pullback, you ride it up to 26 to one of the previous highs.

Whatever you got to do right, just be cautious, be cautious. So, with that being said, let's get into the meat potatoes, which is the daily chart setup right. We're not really going to look at this on a one month chart because that's going to be irrelevant compared to the price action that we've seen on e-y-e-s for the past little while. But i do think this is a company that does have some long-term potential for sure short-term potential way way way way higher right now and i'm not making the same mistake that i made with rocket with you guys do not chase this.

If you're, not an experienced investor right, you could very easily get burned, so just take that in the back of your mind, what are we looking at right now on this chart? Setup man, the cleanest stair stepping you could have ever possibly asked for in terms of uh level of support. We've got literally stair stepping higher lows higher highs, and this is the first little sell-off that we've seen since pre-market has opened here in uh in the states. So, that's that's! That's huge hit a high of about 26 dollars and 20 cents turning above the v-wop, the volume weighted average price, which is typically a sign of good bullish territory for a day trade. You love to see a stock right above the v-wap on the uh, the daily minute, one-minute charts, because that tells you it's in great day trading territory.

So that's great. We've got the 15 ma trading way over the 200 ma right now, which is absolutely crazy. Starting to hook in towards each other right now, but this could very easily change by the time you guys see. This video, more importantly, is what i want to focus on the levels of support and resistance possible entry points into the stock.

So i'd say the strongest level of support that we have right now is about right here, 19 and 20 cents or so, and we might end up testing that. But we also have this ascending level of support, which is another great technical setup, where it could very easily bounce at twenty dollars and four cents, maybe twenty dollars and fifty cents. And if you guys end up seeing this, you know past market open, um it. It would look like a little little something like this.

Like twenty four dollars. Twenty three dollars, you guys, can draw the lines and connect the dots yourself very, very very easily, but i am anticipating. This is gon na be a leading gapper. Again i pushed this on the discord.

I said guys, if you want to buy into this. It is gon na, be a slam dunk for the day right, i got lucky, but you guys don't have to get lucky. You guys can just hop into this and make some quick cash. If you're an experienced investor right, there's risk involved have a trading stop-loss set.

It depends on what you want right, but i would set it for maybe 10 15 20. Whatever you need to do, but uh just be careful, so those are the two levels of support that we're looking at right now on e-y-e-s we've got that ascending level support, and then we've got this double top right here at uh, 19 and 20 cents. That should act as a great level of support when you buy this. If you do end up buying this day, trade or swing trade right, whatever you got to do, just make sure that you take what it gives you you do not want to get stuck holding the bag here.

Do not make the mistake. We made with rocket right that was uh. That was bad. You got to read the chart set up, that's something that i can't like.

I can't uh. I can't walk you through. You know, step by step. I might not make a video about this again right.

I might take my profits today and then that'll be the end of it so um. Unless i decide to make this a long-term investment which at that point i will bring it back to the channel. But you guys need to know when it's intrinsically time to step away right when to buy in is when you see these big dips. Buy the dips, sell, rips, buy dip, sell, rips, buy dip, sell rips.

It's seriously that easy guys so be watching for that right. So this would be the perfect opportunity to buy into that. What do i mean? Well, you have this engulfing candlestick pattern. So you'll know you're not catching a falling knife, because if it's a bunch of red candles in a row - and you get this engulfing candlestick pattern - which is a red candle, followed by a green candle - that is larger than the previous red candle, that is typically a Sign of a bullish reversal, don't worry about paying a little bit extra on the top right.

That's, okay, the difference between 2140 and 22 dollars here, right, you're! Looking at you're already still, it's already up two bucks right now, if you purchase at the top of this green candle, if you really want to, you, could literally just set your buy order for the top of this uh previous red candle once it touches that or Just a hair above it, so you know that it's going to right and at that point it's it's okay. I would much much rather know and get that security pay a little bit extra to know that i'm not catching a falling knife and that it is in fact going to keep growing so be watching for those dips sell selling the rips. That is the basic premise of this day trading thing: i am going to be live streaming this year later today, as well, so be watching for that. I think this is a great opportunity, a rare opportunity for a short squeeze, and i honestly would not have brought it to the channel because uh with what happened with rocket, but this is a much different scenario in pre-market right.

It's not bleeding. Just like rocket did right. This is a chase and i'm being very, very public about that. I got lucky um i personally.

Unless i'd woke up at four in the morning, i probably wouldn't have held this for the entire day right. If i hadn't bought in you know at that given time so, if you're going to buy into this right day trade scalp, you need to be able to watch this minute by minute by minute by minute. Otherwise you could very easily get burned. I really really really want to double down on that, so that is what i have for you guys today.

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