We ended up catching a cute little breakout right above the supply zone as outlined in my last set of charts! Moving forward, we will likely encounter resistance around the red area, therefore there is a high chance I trim half of my position here unless we smash through it. Above our 200-204 area, it's clear skies until 216, and then afterwards we've got out gap...
I posted a $PYPL chart earlier in the week and just wanted to post an update! We seem to have found a bottom of 179, and are struggling to clear 193, giving us two ways to navigate this trade. I'll be looking to grab 12/17 190Cs in the event we dip back down to 179, OR 12/17 200Cs if we break 193 to the upside and start aggressively recovering. Buy the dip or...
I am a huge fan of this $TSM chart! We've been consolidating for a while now, and have finally started putting in higher lows! Will be looking to play a break of the 124 level, likely with 12/17 130Cs.
I've been eyeing $PYPL for a while now and I think this week will make or break it. Although we found support right above the demand zone at 179, I believe we may have a kiss more downside left in the tank. I want to see us get to the demand zone before scaling in a position. If we see 175 and bounce, I'm a buyer. That being said, I will swap to puts if we break...
While $CRM was in freefall we left a small volume gap overhead. Given that we break the upper trendline around 262-263, we should make a quick trip up to 266 as we fill the gap above, allowing us to capture an easy 1.5% move. Options will be extremely cheap tomorrow since it's Friday, making this the perfect day trade candidate.
Absolutely disastrous looking chart. $BA bears have managed to slice through two extremely strong points of support that have held strong for over a year, all in under one trading week. This next leg down will likely lead us to 175, and if that doesn't hold, 158.
$PLTR finally lost the $20 support level that has formerly held strong across many months. This in and of itself indicates that bulls have run out of steam, and that the bears are in control. Alongside the loss of the strong support level, current market fundamentals do not favor growth stocks such as $PLTR, meaning that bulls will have a really difficult time...
Fairly simple trade this time! After $TSLA's run these past two months, we've created a textbook bullish pennant on the four hour chart. We will likely see an aggressive breakout to the upside within the next few days. That being said, I'm not opposed to playing this ticker to the downside either if we get some bearish price action leading into Friday. Standard...
We've got a great risk to reward trade with $F right here! It's sitting at the bottom of the channel, right ontop of a large volume shelf. We should gradually make our way up the channel over the coming days. I grabbed some 12/17 20Cs for 0.53, with a stop slightly underneath in the event we drop to the downside.
$CROX recently put out an awesome earnings report which caused a run to new ATHs. Afterwards, we formed a bull flag, and started approaching a key level of support. This level of support may provide the necessary bounce needed to break out of the flag, and continue charging upwards. Will be keeping a close eye on this one.
I've been trading this ticker for a while now, simply due to how consistently it moves! We've trading within this channel for nearly a month now, and after a brief slipup due to Omicron, bulls are back in control and we've started our ascent back towards the top of the channel. We can consistently trade this name from the $35 low all the way up to $41 high, with...
We've got a very simple trade thesis today! AMC has been consolidating for the past five months after it's insane run to 72$. After such long consolidation, we're finally nearing the end of our wedge, meaning AMC is primed to make a large move to the upside OR downside. I will be eagerly eyeing this ticker, and will play a break to either direction as I've got no...
Simple trade thesis here for you all! SNAP has recently surged, and is flirting with all time highs yet again. We've been making higher lows after getting rejected off of 69.40 twice, and are looking to have another retest over the coming days. If we break above 69.40 we likely visit 70.90, and above that we take a trip to 73.55 before ultimately carving out...
This chart is looking better with each day that passes. USPT has been consolidating for the greater portion of a month, while consistently testing the 126 level and creating higher lows in the process. Volume has been steadily increasing throughout the month as buyers aggressively and consistently step in after each rejection, leading me to believe that we...
Fairly simple trade again this time round! DOW had an unwarranted drop from the top of it's channel on seemingly no news, and had a healthy bounce at the bottom. This enough wasn't really enough for a trade, as we kept running into resistance around 63.80. Now that we're over it, I'm comfortable loading a position. I'll be playing 65Cs and 67.5Cs expiring 8/20,...
With PLTR gaining momentum over the past month, it seems primed to make a breakout over the dreaded 27.50 level. If we manage to get above it, we likely run to 30 due to there being little overhead resistance, and tons of buying pressure. A break above 30 leads us into uncharted territory. This is a relatively simple trade. Above 27.50 leads us up to 30, giving...
BIDU has a really clean setup this week! We're sitting right at the 203/205 resistance, meaning long trades are valid at any point above it. We will likely make a quick trip up to 223, then 228 if it starts running. Above that it's clear skis up to 264, though it's unlikely we reach that far. The only reason I even included that is because ROKU blew me out to the...
WKHS is one of the most shorted stocks on the market right now, having rough 40% of it's float sold short. Currently the technical chart looks amazing, with a bull flag being setup on top of huge accumulation volume. The dip was clearly bought, and now we've got a textbook bull flag with a huge gap left around $30 mark. If we breakout there's an extremely good...