poor risk: reward for longs here. Bias is that Distribution is complete. When other realize it prices will already have dropped 10%.
My thoughts on PCLN. The 100/200 SMA on a daily chart should provide nice support if PCLN doesn't gap much, to do some bull put spreads
Putting in a bullish candle on the 4 hr off of support. A good reversal candle to the downside would be a good opportunity from a R/R perspective.
Trend lines are breaking down, with each successive fail and retest resulting in the next test and fail. Started yesterday.. (orange dotted line and red dotted line) Next test will be the green line, and then to the thick solid Orange line.. oscillators confirm.
PCLN is up HUGE right now. There was a lot of buying previous to this gap. Likely then, some sellers will come in this morning. This current set up is an advanced FADE (meaning, I'm looking to short the bullish gap). The 100/200 SMA likely will act as a resistance of some kind. If PCLN opens above them tough, the chances of this trade working are slim.
PCLN announces earnings tomorrow before market open, so look to put on this play before today's close. As noted in my post early this week regarding this week's earnings play prospects, PCLN's options are somewhat illiquid, so look for a fill of any setup at or above the mid price and resist the urge to chase price for a fill ... . You can naturally play with...
I ground through a large number of next week's earnings announcements, thinking I might find a nugget or two to play via options, but was somewhat disappointed. I've never played ESRX before, which announces on Tuesday after market close, probably because I'm not a fan of anything remotely pharmaceutical for these plays beyond the "uber" names like LLY and AMGN. ...
Occurring at an all time high (after a strong bullish run) = textbook IR. Let's see what happens but if you're trading it, be slightly bearish..
Nice DOJI on Friday. That was after PCLN pulled back into the gap which acted as a support. Looks nice on the hourly... More bullish than bearish at this point.
Earnings analysis for $PCLN: $PCLN broke out of a weekly trading channel (red dashed lines). but it did it with a gap that closed as a bearish Pinbar. 1260-1280$ is a strong resistance zone with the figure level of 1300$ coming on top of it so there's plenty of resistance ahead if $PCLN intends to reach new record. As long as the price remains below 1300$. the...
6/24/15 Possible falling wedge. Should pop bullish. Edge (as of right now, I agree to be more bearish than bullish). However, PCLN at the 100 SMA on the the weekly and the 200 SMA on the daily. High chance this spread expires worthless. 1130/1125 this week! .50 limit I will only look at this spread if PCLN closes below 1140 on the daily. 1135 is still a...
6/3/15: 1130/1125 BPS June exp $0.11 limit. Bounce off SMA's below support
Could go even a tad lower on the spread. Spread is below the 100 SMA on the daily and weekly. 1101 strong support along with gap.