(Code-Name_Virtue) Minor Trend Analysis
Historically price has traded into a three point reversal shown on the chart as a connecting line plotting 3 points ( ) along the peaks and valleys. Within this three point reversal a chart pattern has formed and broke out. Towards the end of last week price traded outside the neckline of this chart pattern and also completed the pull back to it forming a chart pattern on the breakout. Currently there is about $.35 of left in the for price to trade to before it is forced out of the chart pattern by default. Drawn on the chart are lines, a , and red lines indicating strong values of supply. This establishes the grid for price action and the focus I would like to call attention to within this grid is the red supply lines which price is now starting to trade into. These supply values are strong, and I do not think price will have momentum to trade past them; the three point reversal has not shown a sign of a reversal supporting the speculation that price will not trade past the allotted $.35 of before it reverses . The indicators displayed are: the , , and Stochastics. may have formed a Triangle in an overall downtrend suggesting a squeeze to the downside, the is at resistance of a downtrend and also at the zero line with its histogram in consolidation, and Stochastics has just entered overbought. The overall consensus is that we may see price trend for 1 more day, or even gap up to sell off all day before it reverses .
(Keymaker) Option Strategy
Entry: on the high of the 30 minute or 1 hour chart.
Target: exit as Stochastics enters oversold or when you're comfortable.
Stop: $.15 above your entry.
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