The PEAD projected a Bullish outlook for $EA after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 80%.
EA has a very good relative strength - didn't got hurt by the current bear market.
It is to be expected to shoot up in the next bull market.
Cup and Handle pattern - is clearly seen.
Signals that indicate a bullish trend for the next days, as always with these simple signals I only expect at least 5% profit
Control your own risk.
I don't give buy signals, I show simple ways to identify the signals
Viewing similar structural formations at different points in time on EA
This is enhanced by the fib circle, which allows the view of a larger up move following the yellow (1) formation in circle.
Red is a double top.
White are double bottoms. Along with yellow which are also double bottoms, but are closer to the break out point for the bulls.
Watch $EA and above red line is a break-ot buy! Resistance @134.11 from a trend line in the daily time frame.
A resistance zone ranging from 139.01 to 143.14. This zone is formed by a combination of multiple trend lines in multiple time frames. Watch the stock above day resistance @134.11.
EA IRON CONDOR IDEA
CREDIT: Looks to be around $40-45 right now.
Collateral: $500.
9/30 EXPY (39 days).
$155 long call strike price.
$150 short call strike price.
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$110 short put strike price.
$105 long put strike price.
Short Strikes allow for approx. 18% up and 18% down from current price (as of 8/19 close).
The PEAD projected a Bullish outlook for $EA after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 75%.
The last EA bar was nasty and got me to close out half my short position to be risk prudent. I still believe the stock fundamentals are weak. The analyst call was seemed very bearish to me as the executives seemed to dodge numeric specific questions. They said something along the lines of we don't see a recession, our numbers are good etc despite a meaningful...
- Fundamentally stock looks weak and will probably get weaker as covid comes to an end people will go out and play
- Technicals (MACD and Relative Strength) are weak as well
- Looks to be (over) priced upward for the recent relative deals (comps that got acquired - MSFT -> Activision)
- Still range bound - but sets up a target ~90 on the downside breakdown
-...
7th May 2022
Earning report next week will provide a clearer picture for EA. First support at $110 coincide with 38.2% fibo level.
Bias more on the downside.
p.a topping the fib ext here - doesn't mean we go down or up, but its clear a move is about to happen as its reached here since 2018. From 2020 to now its easy to see vol is consolidating - no big moves down or up, not even covid moving p.a that much compared to others.
It is possible this p.a is re-accumulation schem 3, based on something like i painted to play...
Mega freaking rising wedge, if it does breakout the pump could be massive, a la NVIDIA.. What could be the catalyst I wonder... what if will announce NFTs? High risk high reward play, watch for the market and a possible correction in the next weeks. Time frame uncertain, could be weeks..or longer.
PT:170$
Stop loss if breaks major trendline.
All major daily EMA...
