marketchan

marketchan

I am shorting WING via Put Options expiring in July 2024. Here is why: - Overbought chart with RSI bearish divergence on the daily - Retail activity increased more than 100% compared to D-7, D-14 and D-28 === FOMO - Price closed green for the day, 7 days in a row - On the 21st of Feb, the company released very good earnings but the price dropped -4.36% despite...

marketchan Updated 

I plan on initiating a short position few days before or after earnings (Feb 21): - price is overextended (daily, weekly, monthly) - long term resistance trend line broken to the upside with ease but not retested yet - retail activity extremely high - retail sentiment extremely bullish - Put/Call ratio highly in favor of Calls BUT in the past few days, as the...

marketchan Updated 

META price has increased dramatically during yesterday's trading session. META has published positive earnings and announced that they will pay dividends in the future. That's it for the good fundamental news. As a technical trader, I like looking at price action and trading activity. I noticed that retail activity has increased more than 300% yesterday,...

marketchan Updated 

The presence of RSI bearish divergence (on the Weekly and Daily timeframes), underscored by price making higher highs while RSI makes lower highs, coupled with insider selling totaling 2,818,600 USD by the CEO on the 2nd of February, indicates potential weakness in the stock's momentum. Moreover, overextended prices on the weekly timeframe further bolster the...

marketchan Updated 

Price reached the upper limit of the multi-months parallel channel. Stock is overbought on pretty much all high time frames. Modine Manufacturing has strong fundamentals and has been performing very well and beating expectations in the previous earnings, which is great but expectations are very high for the next earnings report on Jan 30. Stock price went up too...