Will AFRM Find a Bottom This Week Heading Into Earnings on 11/6?"Abide in me, and I in you. As the branch cannot bear fruit by itself, unless it abides in the vine, neither can you, unless you abide in me. I am the vine; you are the branches. Whoever abides in me and I in him, he it is that bears much fruit, for apart from me you can do nothing."
- John 15:4-5
Hello Traders!
As part of my weekly equity trade analysis, I will be uploading my recordings of what I am seeing and intending to trade for the week. A quick summary of what's in the video is as follows:
- W has seen 5 consecutive months of higher closes. Can it deliver on earnings and see another month of higher closing prices?
- AFRM and other fintech stocks will be impacted by earnings and fed rate decision this week. We are waiting to see if price goes to support first to allow for a deep discount on weekly call options
- We are expecting a retracement on AFRM to resolve some imbalances at $66.41, but to structurally hold key levels above $65, and to close the week near $80. On W we are waiting for price to get near $65 for a close at or above $80 per share.
- Our vehicle of choice this week are the $75 weekly calls on AFRM and $70 weekly calls on W
Cheers,
DTD
Financial Risk Disclaimer |
DISCLAIMER: I am not a financial adviser. The videos on my channel are for educational and entertainment purposes only. I'm just showing you guys how I invest and day trade, but remember, investing of any kind involves risk. Your investments are solely your responsibility and not mine. While day trading can bring substantial gains, it can also bring serious losses! So make sure you do your research to fully understand the market before diving in. The possibility exists that you could sustain a loss of some or all of your initial investment, and therefore should not invest money that you can't afford to lose. The fluctuation of the market can work for you or against you. You should carefully consider your investment objectives and experience before deciding to trade in the market. Again, what you invest in is solely your responsibility.
