This is an earnings play strategy to go Long and to go short at key levels of support and resistance.
Since I have gone through the charts this stock will most probably flush. So we will be shorting it.
Gameplan is to see the stock opens much higher. Because higher it opens higher will be the profit on shorting.
If it opens near 109 or higher. See if the 109 area R2 resistance turns into support. If it does do not enter into short. Wait for a bearish candlestick pullback on 5 mins only if the stock is trending up. It does not matter if it touches 111 or 112 do not enter into long. Enter short on 5 mins candlestick bearish signal only if it trends up.
If the stock opens at 109 or higher and the first five minute candle is strong bearish candlestick. Just enter the trade short and your target has to be 105.
Since I have gone through the charts this stock will most probably flush. So we will be shorting it.
Gameplan is to see the stock opens much higher. Because higher it opens higher will be the profit on shorting.
If it opens near 109 or higher. See if the 109 area R2 resistance turns into support. If it does do not enter into short. Wait for a bearish candlestick pullback on 5 mins only if the stock is trending up. It does not matter if it touches 111 or 112 do not enter into long. Enter short on 5 mins candlestick bearish signal only if it trends up.
If the stock opens at 109 or higher and the first five minute candle is strong bearish candlestick. Just enter the trade short and your target has to be 105.