OptionFishing

OptionFishing

TEVA is oversold on the daily RSI and has been consolidating there for a few days. I believe that a close on the daily and weekly above the $16.60 area should break us higher. Money is flowing into the April $18 calls. That is where my money is at this moment. Watch the consolidation zone per my chart and keep watch on a weekly or daily close below $16. 50's...

OptionFishing

TEVA is oversold on the daily RSI. However, TEVA could complete a H&S pattern if it closes the weekly and daily below $16.60 (below the trend line). If it breaks higher, you should see a close both on the daily and weekly above the $16.60 area. If it spikes based on market sentiment you could see $18 by April.

OptionFishing

Trade news is right around the corner. SPY has had an incredible run... But the political climate and the near vertical run of SPY has put (no pun intended) it in oversold territory. I am insuring long positions with puts on SPY. I believe with all the political noise and slowing of the global economy we could see a down side move to around the $257 area. After...