Good short entry for BAC on the bearish engulfing pattern.
This is further confirmed by the past three days of trading attempting to push the stock up and failing.
Tentative price target is 23.47 but as always, monitor for new levels of resistance.
This is further confirmed by the past three days of trading attempting to push the stock up and failing.
Tentative price target is 23.47 but as always, monitor for new levels of resistance.
Trade active:
Entered trade using PUT options at COB yesterday when I saw break of hourly support. It's showing some nice consolidation action today on the GAP down. Planning on staying in this trade for an estimated two more days before hitting target.
Trade closed manually:
Closed trade due to a descending wedge pattern and resulting breakout. While I think the price will continue down, it will not be worth the cost of maintaining my option.
Closed at 50% profit.
Closed at 50% profit.
Comment:
And this is why you take profits off the table when you see signs :)