Dipping into another $TSLA short term price rally to hopefully bank another winner using Credit Spreads.
In the 3/29 $265/255 Puts Spread, currently valued at $200/contract, $1000 collateral (in at $300), looking for 50% or more return over the next few days.
Played this last week using the 3/15 $267.5/272.5 Put Spreads, netting an 82% return in 4...
Looking for a break out based on the 60 min chart consolidation shown. RSI has leveled off, good volume on a break will push this back above $80 and could retest $83 in the coming days.
Will watch volume here. Looking to play 3/15 options on good volume. IV is low based on historical highs
$ATVI is headed south to retest what appears to be resistance around $45.50. This has been beaten down for months and has found a consistant bottom here around $45 and for the past few weeks has formed a nice consolidating wedge.
Look for the restest and bounce off the lower band of resistance before entry. Keep an eye on RSI to curl up.
SPY is nearing resistance above and coiled tightly in a pennant formation. I'm banking on this moving lower in the near term, at least retest $260, on a failed break above the current resistance level.
$A is approaching ATH near $75. It's formed a nice Butterfly Pattern, but I think we'll see a pull back in the coming days. Look for the top to be formed this week, with a decline down to $70 area. Potential 7% swing.
Looking back, we are just above the historical resistance level ~$94 dollars that rejected $PG on several occasions.
I'd keep an eye on this through the close and into opening next week. If today's highs mark the end of the most recent rally, I'd expect a pull back to the $91 range, and potentially down to $88.50.
I'd be surprised to see this continue to rip,...
$SPOT has dropped almost 35% in a matter of weeks (along with everyone else). They have broken all-time-lows first seen during the first days, but have since recovered to the previous ATL @135. It's basically fallen in a nice downward channel, I'd watch this to hold support and consider entering long for the midterm when it breaks out of the channel. RSI and...
$MIK appears to be forming the right shoulder of an Inv H&S pattern. Resistance currently sits around $18.24, showing an upside of +9% from the neck line.
$MIK is currently at historical lows and appears to be extremely cheap for the mid - long term
Looking at a weekly chart, we appear to be holding support while finishing the 3rd corrective wave following a successful 5 waves up starting back in 2015.
Medium term, this appears to again be a buy and hold
Using the 52wk high to draw the top of the range, as well as the 52wk low to draw the bottom of the wedge formation, we can see that IBM is coming to a crossroad. While it's been in a downtrend for the past 8-9 months, the last 2 months have shown a bottom form and tight consolidation.
In the next 3 weeks, this will make a move. I'm betting it's up.
In the prior weeks, I saw a few articles showing DIS approaching support that had been defined in the bottom band of the upward trend channel outlined. However, as this didn't hold support, the stock didn't crash either, as some tend to do following a pattern breakout.
Looking further, you can see a fairly well defined handle being formed on the cup that played...
After crashing down from All Time Highs in July, Zillow has successfully held support at $46, which has historically acted as strong support/resistance .
I'd like to see this retest support before entering. Late year options plays could be a great way to capitalize on the move back to $51, ~10% from the $46 support level .
Over the last 2 months, UNG has dropped from the $24 level, down to $22 and now it's back up to $24. In the last week, we can see the price consolidating at the $24-$24.50 range and is looking to pop higher.
Next level of resistance is at $27, which is a range of ~13%.
The C&H can be seen on both price, RSI and Stochs. Keep an eye on this, if RSI starts to...
Looking at the weekly chart, it appears we are hitting resistance at the 23.6% retracement level. RSI is flat and MACD isn't showing strong momentum, so for now, I am waiting for the pull back.
If this fails to break, we will look to retest support around $45 before this thing is ready to retest ATH near $62.
Will wait for confirmation higher/lower before...