I've been very bullish on this stock and still am, but we could see some temporary weakness. I took profits on calls and scaled common Friday.
Rejected at the 20 VWMA on daily which aligns with the upper BB on 4hr. I don't like the secondary test taking out the low with SLO STO hitting OB levels so quickly.
I could be wrong, but my instincts tell me the a low retest may be in the cards. Options players buying the August $35's and October calls. I think minimum we see a pull back to the 26.22 level, which is in line with the accumulation levels.
Sell wasn't real concerning, so may be just a false alarm. High tute ownership, but retail investors are playing scared and will sell quickly. That may be just the plan for tutes to capture more shares a the 23.92 or 22.39 level.
Rest assured, If I see either of those levels - full position on.
Rejected at the 20 VWMA on daily which aligns with the upper BB on 4hr. I don't like the secondary test taking out the low with SLO STO hitting OB levels so quickly.
I could be wrong, but my instincts tell me the a low retest may be in the cards. Options players buying the August $35's and October calls. I think minimum we see a pull back to the 26.22 level, which is in line with the accumulation levels.
Sell wasn't real concerning, so may be just a false alarm. High tute ownership, but retail investors are playing scared and will sell quickly. That may be just the plan for tutes to capture more shares a the 23.92 or 22.39 level.
Rest assured, If I see either of those levels - full position on.
