OptionsRising

OptionsRising

After an indecision doji candle on April 6, there was a bullish engulfing candle. Technically speaking, this is a strong pattern that only signals a buy if the high of the candle is surpassed the following day (sometimes it takes two days). Today's high of 43.72 went over yesterday's high of 43.66. If you are learning, the same is true for bearish engulfing...

OptionsRising

My white resistance line connects the daily close from Jun and Aug 2019. Yesterday AAPL opened at the line and sold off, and today it is a small inside bar so far. Watch price action on 30min, daily, and weekly. Downside targets are 250, 238, 224-218 You can create stops based on loss amount and/or stock price. Stock should remain below 266, but adjust...

OptionsRising

NVDA has shown a "V" shaped rebound and is at cloud resistance right now, with 20sma firmly below it. Also RSI can stay below 60 and head lower (daily chart). I see a long red candle on 4/7, followed by an inside bar today so far. I will be holding these puts overnight and looking for a lower close on Thursday. Today I have stops over 267 and 268.

OptionsRising

You can see white dotted support line. Larger trend is still down. On 15min chart, 10sma is below 20sma, and stochastic is below RSI. Look for RSI to move below 50 line On daily chart the RSI has come up to 50 line and it could fail and turn lower. Take a good entry on 5-15 min chart. Notice TSLA has had three gap up days. I use directional moving index more than...

OptionsRising

On this daily chart you can see that price has come up to a resistance area between 272-278. 20 SMA is below Ichimoku cloud. Most importantly I am looking at the relationship between RSI (yellow oval) and stochastic. Stochastic has come up very high while RSI has not gotten over 56. This indicates that closing prices were moving higher rapidly, in line with...

OptionsRising

This monthly chart shows bearish divergence between RSI and price action. Zoom out on your own char and you will see WMT is still near all time highs (stock has not sold off). You can also see that stock dropped below 10sma and has come back up to test it. On the weekly chart, stock found support at cloud and moved back up. You can also divergence between price...

OptionsRising

after move lower, stock has consolidated and tried to move up, but failing at 20SMA resistance. check 1:30 candle for bearish engulfing pattern. Also on daily chart, stock closed below 10sma and retested it today. Looks like stock will head back down to 230.

OptionsRising

Check multiple time frames. You can see a double top on weekly. Stock went below 20sma and made a strong up move last week, back to 10 SMA. I am looking for stock to come back down to 230-235 area, and it could head lower. My stop will be over 252.50. I had a support line around 252 on 30min chart (from earlier) and stock broke below it today. Will be...

OptionsRising

I am buying puts on TSLA again. The monthly chart shows a lower open, with support in 360-390 range. On the weekly chart, stochastic is below RSI and price is below 20sma. It looks like last week was the restest of 50-line, and now RSI is turning lower. Yesterday TSLA closed above the resistance line and a close back below it today indicates more selling to...

OptionsRising

The white line was on the chart from a previous post. Stock touched it and is heading lower. Also after such a sharp downward move, stocks in general should touch 20 SMA and pull back, heading lower again. You can also see the 10SMA is still below 20SMA, and RSI is below 50.

OptionsRising

On the weekly chart, you see a bullish engulfing candle, technically that signal triggers when the high is broken. This week the high is 192.80, same as last week. Stock has to trade at 192.81 or higher for candle pattern to trigger calls. Based on daily chart, I am looking for stock to move lower since it has risen up to touch 20 SMA. You will see RSI go...

OptionsRising

The white dotted line is from a previous chart. Stock may move up to that resistance line. It may also move up to 120 (green line) or down to 70 (red line). I am looking at daily RSI, along with other signals, to decide on puts or calls.

OptionsRising

WEEKLY - I posted a line chart because it clearly shows how price went below 20 SMA (orange) and came back up to test it last week. Usually this is followed by another move down. We need caution because price did not close at/over the 20 SMA, so it could move up again this week. Also price dropped below 10 SMA and did not immediately go back up to test...

OptionsRising

I bought 4/17 expiry 10.00 strike calls on March 16 for $1.29. Option is around same price now due to a little theta decay. Here are reasons I like this trade: RSI stayed around 50 and is now turning up today's candle close is back over 20SMA on hourly chart you see some buying volume and stock broke above consolidation When you look at the sharp move up...

OptionsRising

You can see the red dotted lines are the resistance area. RSI has not touched 50 line yet but in strong trends the 7-day RSI proves more useful, and yesterday it was at 54. Look for confirmation signals on 15-30 min chart, like RSI 14-day going below 50, and bearish candle patterns. Options are expensive so you can try a 450 or 470 strike PUT expiring next week,...

OptionsRising

Stock touched 20 SMA today, and this "first touch" or a close at/over 20 SMA usually results in a move back down. Usually I look for RSI to touch 50 or just cross it and then turn back down. Due to steep down trend the 14day RSI may turn down before touching 50, or it may take another day if stock price stays up. See today's closing candle and watch RSI, on...

OptionsRising

Note the first two ovals on stochastic %K were spikes that went up and immediately turned down, corresponding with touch of resistance line. The third oval is wider, because buyers held stock up near resistance line longer. I opened weekly 160 calls to make a quick trade, though I may hold overnight. Use little capital. I am looking for RSI to get over 50. I...

OptionsRising

On the weekly chart, this line graph removes the noise of candles and you can see how the current price over 300 is still near the highs. Two different green support lines converge. This may take time, so look for put entry signals on hourly and daily chart. Also the long red candle a few weeks back dropped %K from over 80 to under 20, which often forewarns of...