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.
I like this high wave candle for a break higher from the last two day highs. Also need to break the June 4 high and June 5 low.
Let's see what happens :)
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.
Cheers!
We are fighting the 50% fib right now. Next up is the 61.8% if she can push higher. If it's a failed breakout, buy off the lower trend line for a reset.
Cheers!
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.
Cheers!
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...
Today SHOP made a lower low, but is still holding the 100 day sma on the daily chart. I'm putting an order out there for a limit buy at $110 with a stop at $100.
She may hold here and continue higher if the overall market does too.
Let's see what happens :D
There is a nice symmetrical triangle pattern that has formed just in time for earnings. A good indication that a decent move is in store for EXEL depending on the ER.
Green box : gap down here into support we could see some buying off the lower trendline and 100 day SMA, or the 200 day SMA if the price gaps that far. The latter being a much stronger area to...
