Yesterday RG started it s tradingsession very weak with a gap down and was traded temporarily below the central pivot support Level @ 8.90$. Per Close, RG could defend this Level - a false breakout or ptential bear trap was formed.
The open gap is the new shortterm resistance . For me, the Region between yesterdays low and the gaps upper edge seems to be neutral...
Buying NYSE:RF Call options for May 20 with strike price of $9.00
Purchased options at a $.04 bid with a Implied Volatility of 35.94%
I will update the loss or profits.
Cheers, TP
After a very nice bullish divergence that I missed, a rally emerged. I believe that now it's a good time to hop abord this uptrend, because RF tested local support, and rejected it strongly, with an engulfing candle. Today was a strong day for the financial sector. The oscillators don't tell me anything, so that means go with the trend. Target is at 11.50$ where...
As interest rates are on the rise it's key to know what securities do well in those conditions. One example of such a security is Regions Financial $RF (sector = REGIONAL banks). Looking at both the immediate movement, after RF's Inverted Head and Shoulders, and the bigger picture of RF, you can see how this chart plays nicely with price patterns and healthy...
