I got entries in the lows forming a small uptrend, might get more momentum.
Here, we had a perfect butterfly extension pattern on the weekly. For this price action, it seems that the most likely complimentary pattern here would be a shark pattern; therefore, I have indicated the 0.886 retracement and 1.13 extension of the CD butterfly leg, as well as, the normal 0.382 and 0.618 retracement take-profit levels. Good luck, trade safely,...
LONG-TERM: Bullish butterfly PCZ bounce off an iceline, descending broadening wedge, classic bullish divergence. (not financial advice)
I'd love to see EDU succeed but the path to resurrection won't be smooth...
$EDU short put vertical 73% PoP for credit at support New Oriental Education & Tech Group had a big move and a big correction. It's time to playing some bullish move. Weekly timeframe: Oversold on weeky and on daily too, sitting on the bullish trendline. Daily timeframe: Oversold too, bullish divergence. Playing short put vertical here, because...
EDU could rebound after a 66% pullback from a supporting line since 2016.
NYSE:EDU Possible Scenario: LONG Evidence: Price Action TP1~ 15.5$ Call options, Strike 15$, 05/21/21 This is my idea and could be wrong 100%,
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Appears to be trying to break up from a rectangle..A rectangle is a horizontal consolidation zone (HCZ) but can break up or down. Long entry level would be the top trendline or 187.45 with an uptrend. This would be a rectangle top I suppose. EDU broke up and out but appears to have been pulled back in to the rectangle..for now..The top trendline is resistance...
Looking for a bounce at a major support line, keep stop lost tight, or wait for a move up and confirmation to stay in the pattern. Missed this the first time hoping for a mulligan!
Looking like a nice set up for a breakout if you are willing to play earnings, I would like to say my target is 180-185 to evaluate the volume and possible new ATH test. I purchased 2x 2/19/21 $180 Calls @6.30. Good luck and remember that the market will be a little unpredictable with the change of presidents and extended new highs! Be careful and good luck!