Consolidation below highs over. Turning back on the daily charts as well as weekly charts
Bull trend on weekly charts started in 2020 - and the past 2 months were a longer term pull back in this bull trend
Stop Loss - 950 which is the median of the level at which consolidation started
Price Target - 1050 which was the previous high
Low Risk / Higher Probability Trade - Sell 1000 - 950 put spread and collect theta. IV at 24% is decently high for this stock
Higher Risk Trade - Buy 1000 - 1050 call spreads and close them when the stock gets to 1030 or so
Disclaimer & imp rules * These are merely ideas and not a recommendation to take a trade * Trade small size & keep a wide stop loss (atleast 1.5 ATR). Dont fall into the trap of tight stop losses & big positions * Be patient when in the trade - the stock doesnt know you or care about your feelings. * Be ruthless with cutting trades that hit your stop * Be patient & wait for trades to come to you. Do not chase stocks - that only ends in disaster
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Take 50% profit if not done so already - hold the rest for target of 1070 - previous high Once at 1070 we will re evaluate