So far the seasonality for JULY stayed the same as the historical. Even August seasonality historically negative. My guess is Sometime during august they will test the descending trendline and a falls breakout but back in to test the support trend line around 53~55 (Aug-18) option killer. Weekly MACD Histograms turn above zero line and RSI holding on 50s.Then the rally picks up to EOM back to 58~60. Rest all in Micron Buybacks mercy!
caffeineplease
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Why do you think this next move plunges below the bottom of your channel up? From March on it has felt like one big Bull Flag. Just held back by Political noise and Market Maker OPEX pinning each week.
Will_Wong
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@caffeineplease, S1, S2, and the 200ma should provide plenty of support.
caffeineplease
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@Will Wong, You got the drop to $52.50 this morning. RSI is very low. Hopefully the bounce/Run north is in progress now.
rudyae86
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@caffeineplease, RSI in the Daily chart still shows divergence going down...hopefully its temporary so we can ride the bull up again :)
@Will Wong, I might re-enter at 52 and going medium long on this one
rudyae86
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i bought a call that it will go over 56....might have to sell it tomorrow morning if the price suddenly goes up, even if its a few cents.
Will_Wong
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@rudyae86, depending on the expiration, you might not need to sell. I am still holding August calls.
rudyae86
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@Will Wong, I bought a short one...expires this Friday :(. My fault for misreading my own TA and didn't see the daily and instead relied on the 4hr chart. Oh well, this is my second time trading options so I learned something new this time. My first option I made 40 bucks from it so I didn't really lose much on this one