Ascending Broadening Wedge Visible on Weekly Time Frame
We gave Double Bearish Divergence on the RSI and are at the Supply Line of this Weekly Ascending Broadening Wedge. We are however very near 100 an di wouldn't be surprised if it just came to visit the area's of 100 before coming down but at this point in the chart would be a nice place to take profit or take a shot a being Bearish.
As of right now the put options are very expensive for this stock most of the puts are trading at about 3-5 times the price of the calls for the same strike so we will have to wait for those puts premiums to go down but if they ever do it will be a nice entry.
As of right now the put options are very expensive for this stock most of the puts are trading at about 3-5 times the price of the calls for the same strike so we will have to wait for those puts premiums to go down but if they ever do it will be a nice entry.