I think this thing will take a dip under 13 this week on the H&S. Buy it at the convergence of the H&S target, bottom of schiff channel, support from top of wave 2, and bottom of falling wedge.
If you're buying options I'd just as soon take profit or sell covered short term calls when it bounces to the top of the wedge, I think it'll consolidate at best for the next month around the .618 retrace so why burn premium? Long term holders may wanna just hold it until it either breaks out or dump it on a breakdown past 12.50. Could it be a $30 stock before the end of the year? Yea sure, but I'd rather wait for technical confirmation and/or a legit fundamental catalyst.
If you're buying options I'd just as soon take profit or sell covered short term calls when it bounces to the top of the wedge, I think it'll consolidate at best for the next month around the .618 retrace so why burn premium? Long term holders may wanna just hold it until it either breaks out or dump it on a breakdown past 12.50. Could it be a $30 stock before the end of the year? Yea sure, but I'd rather wait for technical confirmation and/or a legit fundamental catalyst.
Comment:
Just drew another schiff and voila, lines up with all the other lines... everything points to a low of around 12.50-12.75 on Thursday of this week, let's see how close we get.
Comment:
