Cautiously optimistic on PAGS. I will most likely end up doing an option play on PAGS next strong green day, in which I'll sell a Call Credit Spread in preparation for further downward movement. The last gap down shot us right through our upward trend line which is why I'm short term bearish on PAGS. However, I see potential support in the $36 area in which I could see a backtest of the latest major support that was broken in the $42 area. If PAGS gets rejected in the $42 area and returns downward then I see our next major support in the $31 area in which I would expect strong support and would turn bullish on PAGS.
Potential Option Trades:
I would be looking to sell 30-60 day Call Credit Spreads when PAGS enter's the $40-$42 area
**Please trade at your own risk**
Potential Option Trades:
I would be looking to sell 30-60 day Call Credit Spreads when PAGS enter's the $40-$42 area
**Please trade at your own risk**