TMoneyBidness

IIPR in a textbook bull flag!

Long
NYSE:IIPR   Innovative Industrial Properties, Inc.
Someone told me this was on their watchlist, and sweet jeebus! This thing is textbook. Price target is 190 by Christmas.

It seems like we've got 2 days of consolidation, but I think the Jan 15, 170 or 175 call would be a very safe play. It's sitting somewhere around $2.50 right now.

Watch for the 'wave e' maybe done to 150.60. It's a 100% buy if we head over that fib at 152.73 with just a bit of volume.

I'm 100% playing this with just a few contracts to start. Setting my alerts now!

Stoploss around $147.70 (your option would prob lose about 40%).

I haven't done a fib extension or anything because it's like...what is, work? Do you want me to work for this? No, I do stocks because I don't WANT to work. Amiright? Ain't nobody got time for that!

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.