Weekly: Flag pattern Getting high on the curve but expecting price to break thru supply level
Daily: *Entered on the fakeout, but holding stop below all the support at $16.00 (moving averages)
Moving average are expanding nicely to the upside and the bollinger bands are expanding in opposite directions indicating further momentum.
First target $23.00
Symbol: AMRN Trade: Long Calls Strike: $17.00 Expiration: 06/21/19 Cost: $3.40 Contracts: 1x Total cost = $340.00 Stop Loss: $16.00
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Still holding on to the calls which are currently valued at $5.75 vs. $3.40 entry.
Trade active
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Still holding on to the calls which are currently valued at $6.55 vs. $3.40 entry. (+3.15). Sock is currently trading at $22.33. My first target on the trade is $23.00. Since I am trading 1x contract I will be looking to move my stop on the call option to lock in profits, but I am letting price do its thing!. If trading multiple contracts I would definitely take some off the table you just doubled your $$$ on the option in 5-7 days. But the BB bands are expanding in opposite directions indicating price has more momentum to move. The MA's are supporting price and moving upwards. My plan is one price hits $23.00 to start trailing my stop below the 50 ma, but that has to happen first. Current stop loss is at entry price of the call option $3.40.
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Trailing my stop below the 50 day MA, no emotion, letting the stock do its thing!