Whether you're a short term trader or a buy-and-hodler, there could be a good swing play in this stock if it can hold the $134 support level . SRE has broken above the top of the recent range of the last year and is making strong support at these levels in form of a flag. Volume as also been increasing despite any major price changes.
To take this trade, we'll look for a decent close above the purple trendlines . This stock is low IV, so I might enter early since risk is low, especially with a tight stop loss at $134.
Just be careful, this could definitely break to the downside like anything else, but the odds look good for the bullish case. Wait for direction, manage your risk, and you'll be gold .
If you're buying call options, buy lots of time. At least August.
Good luck!
Trade active
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Up 3% today!! LFGGGGG. Imma swing this one for a while, scale in, scale out.