MoneyPatterns
Long

LEVI – Wedge Support Lowered – Pattern Intact

NYSE:LEVI   LEVI STRAUSS & COMPANY
Update from previous chart as wedge support was too high.

Trade Entry
Holding Feb. 21 expiry Put Credit Spread 18/22 strikes.

Chart Details
LEVI price looked to breakdown out of Bull Flag .
Support from previous chart was $18.87 from Jan. 6 low.
Support moved to Dec. 17 low of $18.68. Pattern intact if above exit.
Exit below $18.60
Bullish EMA cross above $19.08.
Price is already above 10WeekMA. EMA Cross will confirm bullish uptrend to gap fill.

About Me
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Website will be ready for launch mid-January 2020. Thank you for your patience while I try to juggle everything and maintain the same standards.
Disclosure - I am long BTCUSD , GBTC . Short term GDX Bullish , SPXS Bullish , BYND Bullish

Previous chart
Comment: LEVI Undervalued by 39% based on Intrinsic Calculation
This plays into earnings trade mentioned
https://finance.yahoo.com/news/intrinsic...
Comment: I would consider the Stop Reached on this technically speaking.
Pattern has broken.
I am staying in current position. I have time with Feb. 21 expiry.
Below 18.10 and I exit, which is 10WeekMA.
4hr is ready to flip bullish with bearish trend since Dec. 17. Long time for 4Hr bearish.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out