@lavontakeyamon, if you draw a fib from the point #4 in your digram to the peak you get a 0.618 range around the 21.50 range. I'm hoping to get out there.
@egah59222c, u think it can retrace to 21.50 this week based off the inverse head and shoulders pattern it has made
MrStudPuffin
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I'm thinking it will respect the 5 resistance and support zones with the gap up, but if not the whole channel moves up if it finds support above $22.50 or so and hits resistance around $27.50. I'm short myself and am targeting an exit of $20.50 also. Big OPEX on Jan 21, over 80 million shares worth of deep in the money contracts expiring. Assuming MM will dump those the following Monday. Might pay to hedge your shorts with selling puts through that date, and wait for that Monday and we may see a big gap down (I'm speculating). I can't see another reason this close to expiration that speculators would keep deep ITM options at this point, not that many at least. Thinking they are mostly covered calls, so MM will have a ton of shares to sell if so.
UnknownUnicorn32969573
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@BertNErnie that ford stock is in an ascending wedge ... as tight as the wedge is getting it should break down this week by tuesday ... lower support isnt until 22.42 ... if it closes below that, its headed for the 21s ... based off friday's price action, it doesnt have much room to bounce up or down .... the low was at 24.04 and the high at 24.91 ... its poised for a breakdown and volume is decreasing
BertNErnie
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@lavontakeyamon, ford will be FAR below 21... That's nothing. Ford will be tumbling more than most could ever imagine. Single digits.