Given the recent market selloff, the reversal forming on the daily, and with interest rates on the rise, financial companies will begin to rally again. I'm looking to take a long-term position in JPM, given they are a leader in the market and pay a high dividend. Aiming to take next January's ATM (140) calls.
EDIT has been a growth name I've been watching for some time, came up right to my price target which I posted a few months back. I'm watching the 61.5 level as a strong resistance level, also the 272 Fib level. I'd like to see a break above to go long with a PT of 65.4, but it looks like a handle will come next as price retreated right from the resistance zone and...
BABA showing strength for the first time in months since treasuries brought growth stocks down. With the 10 YR residing at 1.4 and growth pushing back up as investors are becoming risk-on, I'm looking to Chinese tech as a favorable growth play. BIDU is also in motion currently!
Looking at the 50EMA, we see BAC coming back into its monthly trend, catching support at the 50 and rallying 10%. This time BAC fell on extremely low volume while the RSI is also catching support. Financials are still in rotation and will be adding to this position over the week, aiming for mid/high 40s by early July.
Consolidating on the EMAs this past 2 week period has been crucial for AMD as I feel we see a breakout and lean bullish coming into earnings late July. Aiming to enter into the mid-July calls ATM here and add once volume starts perking back up.
SHOP bull flag on the daily, recent minor taper off on low declining volume - expecting SHOP to break out soon. Liking the premiums a lot, eyeing the 1235/1232.5 put credit spread for an easy 15 risk to 235 reward.
Great bounce off the 200EMA and with summer around the corner which is bullish for travel, with value still in play, there is lots of room to the upside on BA. Strong move today, with a bullish hammer indicating this may be the reversal we want to see.
NFLX sitting in this sub 100 point range, liking condors here as the range doesn't seem to be breaking anytime soon. Earnings led to a strong sell off, which was bought up recently at support, proving the range is here to stay.
Held support nicely at the 73 level, lots of buyers stepping in. With a low IV and EMAs still above, there is lots of room for a reversal - making long calls look good here. Also sitting in this trend, a condor could work well
EDIT - Solid growth stock within the biotech industry recently beat down, currently off 62% from the highs. This one loves holding Fibs so if we see someone support at this 38 that would be a solid entry. Cathie also buying dips on this one, and with the market showing signs of strength, Huge R/R on this as Growth comes back - the company is a disruptor in the...
Credit Suisse is one of the most credible investment banks with various arms of business that has given them a phenomenal balance sheet. The recent Archegos implosion may put some clients on edge and although the bank has had to sell some hefty positions, it is expected that such a strong company will return. RSI has reset and bounced showing a reversal may be...
After bottoming out at the 200EMA, the 20 & 50 became new support - on the days there is a strong bullish hammer along with an ascending triangle forming. Biden also speaks today about the infrastructure plan, will be watching for a mention on clean energy, should bring the reversal. Watch for a break above the 41.5 and 44 levels, no stopping after that!
MCD has been caught up in the market tides but looks to be quite overvalued. Hitting this trendline from the fall, we're seeing this perfect channel that proves a great MCD short. WIth RSI and Stochastics pointing down, and given the current market volatility, I'm eyeing May puts for a short term swing!
DAL along with the rest of the travel sector is catching some big buyers as the economy is shifting to its reopening phase. Look for some strong movements along the next couple of weeks as the chart is preparing for a big move too. Sitting directly under the 20EMA and a perfect bounce off the 50 - the stock also caught many buyers yesterday exactly off of the...