On a hourly basis, selling pressure accelarated and exceeded the regular sell of pace. Rather than technical analysis only, I also did my own fair value analysis for the stock, and at this point, there is a strong underlying value which may support the price at these levels. On given the price in june and today there is a formation of double bottom and given the...
I like the look of this chart the clean double bottom and MACD divergence indicates prices should be around 44.5. Bought some June 28 43.5 calls for 39c
Understanding The trade:
As an options trader my goal is to identify trend change and utilize a breakout strategy to leverage profit off of major trend changes with minimal risk. Even though this contract does not expire till 7/19 I will be looking to take profit by early July as the rate of decay factor starts to come into play as the contract approaches expiry....
Two areas to go long, dark purple present buying opportunity, if it breaks, i can see bk trading to light purple line. If conservative wait for 1st support to break, requires patience. #GL
Variety of ideas and different stock symbols.
This is about diversification and risk reduction because bank stocks are low volatility and the financial Industry is bullish now.
No comments about Technical Analysis.
