NYSE:COHR | Between a gap and a hard place
65 call option position was stated on relative high volume for this particular stock. The stated level combines nicely with the buyers' liquidity in the left-hand side of the chart. Based on than we expect sell activity at the resistance area. Source: PHLX exchange
taking support from 26 and 34, neutral to long, and looks fundamentally week , but technically strong on 28 and 34
COHR caught my attention for a few reasons. 1st. It is ≈11% of total holding of Scion Asset Mngt holdings, one of the best performing funds since 2008. 2. Technical: SP trading in demand zone, appearing to possibly be in process of forming a double bottom- confirmed on 3 day rule, vol, etc. passing 46.46 area. 3. Valuation: Currently at steep discount to...
If this support line breaks, we will test the lower bound. Could still hit target of BMV:60 -70 on longer time horizon.