MoneyPatterns
Long

LEVI – Bullish - Keeps Momentum Won’t Crease That Denim

NYSE:LEVI   LEVI STRAUSS & COMPANY
I see three different ways to enter this earnings and gap fill trade.

Trade Entry
1. Feb. 21 - $20 Calls for $0.60 each ($60).
2. Feb. 21 Put Credit Spread – 18/22 Strikes. $2.50 Credit. $149 risk. $250 reward.
3. Buy shares and trade. Cheap at $19.25

Chart Details
LEVI is coming up on earnings .
Bull Flag formation just about to breakout.
Bullish EMA Cross with Bullish 10WeekMA price cross.
Gap fill at $22 with earnings on Feb. 4th.
We are also coming off a double bottom on LEVI .
Good setup with good catalyst.

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 , CRWD Bullish short term, ZM Bullish , BYND Bullish
Trade active: Filled @ $2.50 for Feb. 21 expiry - Put Credit Spread - 18/22 strikes
Will update with outcome
Comment: Price first appeared to have broken pattern, but further assesment looks like base of wedge support was too high.
Using Dec. 17 low of $18.68, we are sitting on support.
Going to update with new chart.

Comments

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