mologna
Long

HFC 24 hour trade

NYSE:HFC   HOLLYFRONTIER CORP
24 0 7
HFC             is in a good spot for a 24 hour trade. It has shown clear signs of bottoming out and should bounce to at least $27. This is evidenced RSI and candlestick patterns on both daily and hourly, candlesticks on both daily and hourly.

Position: HFC             LONG
Asset: April             17 $26 CALL options.
Logic: Hourly envelopment candle, daily hammer / doji candle at supporting trendline .
Strategy: Enter immediately, hold to $27 price target or close monday.
Trade active: Active in this trade.
Comment: Great timing on this one. Usually my timing isn't so perfect, I expected it to fly sideways for a bit first. If you're not already in this trade and considering it, expect it to retract a bit from its current leve (26.80) down to about 26.60 before continuing it's way up. Waiting for that retraction should be your entry.
Comment: As expected, the stock has retraced slightly. Now would be the time to enter if you missed the initial entry point @ 26.40.
Comment: Target reached.

Don't look a gift horse in the mouth though. Wait for it to show signs of reversal before exiting. It's still going up on my chart!
Trade closed: target reached: Closed. It was over-extended and would probably retrace until lunch.

You can stay in this trade until likely 27.34 resistance, if desired, but I simply had another play for this money I wanted to enter.

Total profit using call options: 40%.
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