Double bottom and a cup & handle along a horizontal support
Daily hidden bullish divergence on the MACD
4hr hidden bullish divergence on the MACD and RSI
Stop = Below horizontal support
1st Target = Horizontal resistance
2nd Target = Horizontal resistance
3rd Target = Measured move of the double bottom
DNOW prints a hammer on the daily chart as 2,000 of April 17.5 calls traded today on the ask for $0.20. This trade is $40k of premium, calling a bottom on DNOW that has fallen from strong resistance at the 22.85ish level. Trader stands to profit $20,000 per $0.10 increment above the break even at $17.70.