ACN has been a strong uptrend on for the last 6 months. Prices are current consolidating between Darvas levels $145.75 and $148.60. In addition to the strong trend, the chart has a clear WAVE (34ema H/L/C) and Propulsion Dots.
Overall market trend is still up and with trend direction. Earnings will be report 12/21/17, so we will need to be aware of volatility and be prompt in taking profits.
I will play a breakout of the upper Darvas level at $146.70 to a measured move first target of $151.45.
Buy Jan18 150 Call options at $3.70 OBO.
Overall market trend is still up and with trend direction. Earnings will be report 12/21/17, so we will need to be aware of volatility and be prompt in taking profits.
I will play a breakout of the upper Darvas level at $146.70 to a measured move first target of $151.45.
Buy Jan18 150 Call options at $3.70 OBO.
Trade active:
Prices gapped up at the open with a pullback to 148.72. I had to pay up for the options at $4/contract. Prices currently sit 1/2 way to our target. Waiting for 151.45 price target based on measured move.