MoneyPatterns

WW – Weight Watchers Bullish Confirmation & Earnings Play

Long
NASDAQ:WW   WW INTERNATIONAL INC
Watching WW for pullback below $42 to enter or waiting until March weekly options populate.

Trade Entry
Earnings are Feb. 25. Current Weekly options stop at Feb. 21.
My opinion –
1. Buy shares on a pullback below $42 holding until earnings .
2. Wait for Weekly options to populate in a week or two.
3. Use shorter expiry options. I cannot find anything with equal risk reward or better, so I will wait.

Chart Details
Bullish EMA Cross and Bullish 10WeekMA price cross.
White trendline is intact.
Gap fill up to $60 with upcoming earnings .
1.618 Fib Level is perfect with gap fill. Not coincidence IMO.
News – Oprah is going on Tour in 2020 for Weight Watchers. https://www.weightwatchers.com/us/ambass...
This could prove to be positive continuing catalyst. Oprah has massive following and was the last catalyst for WW.
Need to watch for more data after gap fill.

Not currently in this trade. I will update if alert hits, trade is entered, or better options entry presents.

About Me
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Website will be ready for launch mid-January 2020. Thank you for your patience while I try to juggle everything and maintain the same standards.
Disclosure - I am long BTCUSD , GBTC . Short term GDX Bullish , SPXS Bullish , CRWD Bullish short term, ZM Bullish , BYND Bullish

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