We are testing 2712.25, which is a strong pivot (Resistance) on the daily. Nice little doji forming on Friday. I'm looking for a continuation up to test the 200 day sma around 2745 with as high as 2760s before a bigger pullback as long as 2716 is taken out with strength.
Of course if we lose the low of Friday and ultimately 2690, we could test lower off the...
Today and yesterday have the same exact high at 86.15, which makes that a tweezer top . CELG has made a nice recovery from the sell-off and looks to be holding the 100 day SMA on daily.
If triggered in, I will look to close out before earnings on July 26 next week.
Currently I'm in July $33 and August $32 calls just waiting patiently through the whipsaw. But technically speaking it looks like DBX needs to clear the 33.23 area in order to really gain some momentum to the upside.
The candle on July 11, 2018 could quite possibly be a morning star reversal if DBX can break out of its triangle. Line in the sand is obviously...
$MDB is a great company and I like the technology (I'm a software developer). Although I think with today's candle closing near the low, a potential gap down is in the books that could trap people that bought yesterday. So there's a potential to make money with puts or shorting the stock if that gap down does occur. Would be a gap and go.
For at least a couple...
Finally IQ has seen a nice dip most likely due to profit taking on the online retailer sales tax news.
My guess is she continues a bit lower, especially if the low of June 15th's candle ($37.57) is taken out.
Here is my current plan to initiate a new position on the way down.
Sold x2 naked puts at the $43 strike for this week's expiration. SQ is gapping down, but should see support in the $45 area. If $45 is lost, that lower trend line will most certainly be tested. I expect a bounce there unless the market completely rolls over.
FYI I don't mind owning shares of SQ long term since I'm confident the stock will rebound.
Nice one white solider today. I'm looking to enter a May $45 call option at $6.25 (limit buy).
Let's see what happens. If the market continues higher and/or holds, MU should continue higher.
I have two targets for 1R and 2R. Will hold longer if the market allows.
Simply taking the measured move from the most recent high to low, the target 123.6% fib is right around the $5,800 area. I'd like to go long just above the target fib, but slightly below the double bottom area.
My thought is that we overshoot slightly through the double bottom area then get bought up back to $6,500 area.
Let's see what happens!
Right now we are holding the 50 day sma on daily and previous support at $47.61, which is also the 50% of the most recent measured move.
Purple line: what I am looking to see is if we hold here, consolidate then move higher. However, $49.56 is a resistance SQ needs to close above before continue back north of $50.
Orange line: we fail the 50% fib and test the...