I think I currently in a smaller two wave within the larger cycle. In the short term I can see a grind up to 25+ for the B wave before it ultimately heads lower to 18ish ( at the golden fibonacci zone) . From there I can see a huge move in the 3rd wave to ultimately 50+. NOT FINANCIAL ADVICE. If anyone has questions please ask , and if you want me to look at...
.146 or .236 then recovery. Unknown after that. Long-term BULLISH. short-term bearish.
No special chart here just an idea. My simple brain is thinking that owning these three (ICLN, QCLN and PBW) would be like having your own ETF within an ETF with major funding behind them. Here's my introspection: I've been researching how government policies affect the markets. It gets pretty deep but recently I've noticed the copious amount of "green deal"...
.. for a .04/contract debit. Notes: In for .53/contract (See Post Below), out for .04 here; .49 ($49) profit per contract with 28 days to go. Will potentially re-up if implied pops up above 35%; it's dropped to 34.4% here ... .
ICLN had a major rebalancing, for the better or worse. I'm very happy with the removal of PLUG. On the daily time frame, 200 SMA is acting as strong support. 4Hr shows the 50 SMA is resistance. The hype has died down very well. Looking at 2023 leaps and beyond. F for all those who bought at the top with high IV. Your sacrifices will be in vain.
Found support on the local Fibonacci Golden pocket. Moved above the POC. Closed above the 8EMA. Volume increased as did the volume in many stocks within this sector. Potential day trade / keep 21ema in mind.
... for .07/contract. Notes: In for .43/contract; out for .07. .36 ($36)/contract profit.
Green energy ETFs have skyrocketed during the whole 2020, they have all retraced back heavily due to massive take profits. Do you really think after all the trillions put in the green economy and decarbonisation by US, EU and China is going down?! Reversal incoming, great long term opportunity, start to accumulate now, DCA for all the year. Easy.
... for a .53/contract credit. Notes: 30-day implied at 48.8%. ROC 2.72% at max as a function of notional risk.
Expecting a W-bottom & Continuation of the bulltrend with a PT @ 1,618 fib extension
Although it is highly concentrated in 3 stocks: NASDAQ:PLUG, NASDAQ:ENPH, and OTC:OEZVY; the recent sell-off of Clean Energy ETF's present a buying opportunity. Simple long term analysis show a postive performance on the forseeable future.
Here we go folk, put all your money to clean energy then retire.
I like to draw out my options positions sometimes so I can track them on the chart, this is what July calls on this etf looks like
... for a .43/contract credit. Notes: In the top ten exchange-traded funds ranked by 30-day implied: 30-day at 55.9%, expiry-specific at 53.4%. 2.09% ROC at max.
ICLN has created the three drives down pattern to the proper fib levels and is primed for a reversal to the upside. This would break the short term down trend and return back to the long term uptrend. Near 100%+ retrace of the last drive is common in such a set-up.
Last time on a Biden clean energy play... I drew with my crayons. Hit my trendline target after having IV contract and volume die down. The only problem from here would be if ICLN continued to sell off. I kinda wanna save my money for other leaps, but clean energy at this discount is hard to pass up. Most of the high options volume I saw have been offloaded, but...