Note: The light blue 50 on this 4hr chart is equivalent to the 200 day EMA
This price action tells me that the 200 day is now the launch pad for traders to take this to the next level up. Most likely that would be the 50 week around $43.25 - Depending on the reaction to this level, I'll sell or hold. Could be a short squeeze coming.
Further, the is crossing right at the zero line which indicates momentum.
+1 @ $39.42
Not sure if I posted it but, I had previously bought 1 contract on 7/21 at around $42 (still holding). My broker however, is showing my cost basis for my current position is still $39.42
This recent day trade for about $500 profit successfully hedged my loss from $42. Now my cost basis for the 1 contract I'm still holding should be roughly $40.50
-1 @ $43.125