In oversold conditions, with a decent RSI
divergence to the upside. In addition, sideways movement has brought price action into contact with 52 week support trend line
, and Friday's action resulted in a nice hammer
indicator broke out of a downward resistance trendline
on Friday as well. Put it all together and it smells like a recipe for gains to me. Short term options play ideal in my opinion, in an effort to minimize risk/maximize reward. Can pick up July 19th C55 right now for about .35 apiece. Price action likely to exceed strike price by expiration, and depending on HOW quickly it gets there, could be a nice green pickup. I am sounding the alarm on ALRM
. Happy hunting!