Today appears to be a downward breakout from a triangle pattern in DISH as price falls below the lower rising trendline of the triangle. The long-term (secular) trend has been downward, which adds some weight to the downward thesis here. The target is approximately the maximum depth in the triangle projected downward from the breakout point.
Lastly, having a...
we are targeting $41.2 and will trade to buy options and hope to sell it on tuesday! I expect the price to go down afterwards, but will analyze at the point
Possible triangle breakout
Retraced to 0.382 fib levels
Confirmation after close above 0.236 fib level
T1 being top of triangle
T2 being Length of triangle
Dish today broke out of the ascending triangle and I think it's a good time to take a long position. It will be interesting to see how it holds up around the 42$ mark.
Before I enter any call positions Im expecting a drop of the same magnitude as the drop in DECEMBER. After earnings I'll open puts in order to avoid The IV crush. In short I'm very bearish on DISH.
In the entertainment sector, Dish network seems to be lagging while stocks like Disney, ROKU, Comcast had flew like there is no tomorrow.
However, price had broke out of mid-long term downtrend line, it is a bullish sign for next 1-2 years to come
That is only in my opinion, not a buy/sell signal
5g tailwinds
Big volume to oi on 40c april
Trader did approx 5000 32.5/35p put credits for april as well
Sizeable volume on 40c June
On the cusp of a technical breakout with symmetrical triangle formation and bullish momentum on the macd.
positions: 50x 40c 4/16
20x 40c 6/19? (cant remember the june opex off top of my head)
