OLED Holding Key Support
OLED holding key support here during a weak day for the market, even in light of AAPL's earnings reaction.
Showing Daily chart with demand picking up at a key level. 30 Minute chart showing next levels to test. 5 minute Heiken Ashi chart used for tactical entry, helps weed out the noise and better determine short term trends.
Best strategy with OLED right now seems to be options. Looking out to Feb 16 Calls at the 160 or 165 strikes with an initial target for exiting at $170. Anything "closing" break under $155 on the Daily negates this thesis.
Well defined risk levels right now, worth entry or keeping on watch until it meets your personal requirements.
Showing Daily chart with demand picking up at a key level. 30 Minute chart showing next levels to test. 5 minute Heiken Ashi chart used for tactical entry, helps weed out the noise and better determine short term trends.
Best strategy with OLED right now seems to be options. Looking out to Feb 16 Calls at the 160 or 165 strikes with an initial target for exiting at $170. Anything "closing" break under $155 on the Daily negates this thesis.
Well defined risk levels right now, worth entry or keeping on watch until it meets your personal requirements.
Comment:
Trade thesis was blown out yesterday with OLED breaking under $155. It's why we use Risk Management. New support levels on OLED will likely be seen today and this week so keep on watch as any reversal in this market could be very powerful.