Looking at Golar LNG next week. Fail to close -liquidity level tested once, hope to break below and activate potential stop losses at ~21,75 (based on prev 250 candle volume profile).
I’ll be putting in buy orders at around 21,20-21,30$. MA20-50 cross may prov support #GLNG
Analyzing the options chain and the chart patterns of GLNG Golar LNG Limited prior to the earnings report this week,
I would consider purchasing the $22.50 strike price Calls with
an expiration date of 2023-9-15,
for a premium of approximately $2.12.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking...
Purely technical analysis based buy-point here. We can see a clear demand zone between 21-22 USD. Unfortunately, the weekly 20EMA was just backtested and got rejected, which ultimately led to declining price action.
As all the signs are not there to be 100% sure about the trade, I set the stop level at 21 USD, which reduces the risk of this trade going...
--Bull flag
--Inside reverse head & shoulder for base support
--Cut loss below 21 and 50 ema
--Gain ratio 3:1; 4:1 at targets
--See chart for detail
--Avoid choppy action
Looking to get into GLNG as per the chart.
Earnings look like they may be the catalyst for price to breakout of consolidation zone.
Keep SL tight on this as it could retest $21 zone
So we are at support with potentially some bullish candles.
Possible we’ll see continuation to the upside from here as we are at the 0.382fib.
Will have to be watched closely, as is prefer a larger retracement before buying.
But if the black downtrendline gets broken, another run to the usd 27,- area is definitely possible.
I've posted about $GLNG & traded it in recent weeks.
Compare how this held up to other energy names, Relative Strength in that space? Definably!
Putting in a trading range below that 50 MA.
Tricky at these levels as previous failed BO attempt at $25 should have supply waiting.
$GLNG falls under O&G industry group but what caught my eye is purely technical.
currently basing a 2yrs chart pattern (ascending triangle), a potential trend reversal setup in play. attempted to trade out of 2018 high VWAP at $14.45.
actionable trade at $14.60. pretty liquid
Weekly SMA20/40 as support
Wedge at Bottom
Entry 10.7
Stop 8
Target1 20
Target2 30
I am not a PRO trader. I trade option to test my trading plan with small cost.
The max Risk of each plan is less than 1% of my account.
If you like this idea, please use SIM/Demo account to try it.
Narrow ADR & ADVVol scan
Wick Reversals below monthly VWAP(normalized)
PEMA Trigger Zone
LVN at 10.70
On Watch:
Reversal day blueprint
Absorption day
Entry at 11.00 midpoint of rejection day
