AAPD ( APPLE BEAR !X ETF) for LONG SETUP

TSLA
AAPD


AAPD is in a reversal from a swing low corresponding to an AAPL market top

AAPL recently completed a 30% since June 17th the YTD high of the SPY.

AAPD on the RSI color-coded candles is showing a reversal within the day.


I am expecting a 32 and 50 % retracement. By extension on the AAPD which

is a bear inverse ETF I expect a ( 0.32 of 30% = 9) rise from 9% to

(0.5 x 30= 15%) 15% rise with the middle of that being 12% ( this is more or

less fibonacci extensions. I see on the chart EMA divergence and convergence to

demarcate a stop loss level there or simply $0.10 below the EMA 200.

Accordingly, the stop loss is $0.25 below the current market price ( "CMP")

while the targets are $2.16 to $3.60 above the CMP. The reward to risk

is more or less 10X making this a swing-long setup with limited risk.

That said, one risk is the relatively low volume and so liquidity is

constricted.

I will trade this with a call option on the $24 strike expiring in September

16th closing a 2-3 days beforehand to mitigate time decay expectant

for a 75% return in 2/3rds of a month where the cost will be

$50 on one contract.