AXTI saw a massive pump this past week REVERSAL SHORT
AXTI a penny stock in the semi-conductor supply chain business saw a great price gain this past
week going more than 65% The call options ran 2000% on Friday along. On the 15 minute chart,
I see signs it is in high overbought territory and setup for a reversal. Price fell below the longer
of the two paired Hull Moving Averages which death crossed. The price volume trend indicator
put in a massive bullish trend and then went flatline while the mass index indicator triggered
a reversal. I have closed my call options and opened put contracts costing $130 each. I have
considered that they could do 2000% a few days just as the call options did on Friday.
Fundamentally, I beleive that semi-conductors have a down week ahead, see the idea uploaed
for SOXS.
( If you wonder how i screened for and found AXTI like this idea and drop me a private
message)
week going more than 65% The call options ran 2000% on Friday along. On the 15 minute chart,
I see signs it is in high overbought territory and setup for a reversal. Price fell below the longer
of the two paired Hull Moving Averages which death crossed. The price volume trend indicator
put in a massive bullish trend and then went flatline while the mass index indicator triggered
a reversal. I have closed my call options and opened put contracts costing $130 each. I have
considered that they could do 2000% a few days just as the call options did on Friday.
Fundamentally, I beleive that semi-conductors have a down week ahead, see the idea uploaed
for SOXS.
( If you wonder how i screened for and found AXTI like this idea and drop me a private
message)
Trade active:
AXTI has been resting in consolidation the last half of the last trading session. Holding for more cntinuation next week.
Comment:
Trade closed: stop reached:
Bad call moving on