I keep coming back to this thinking it's already oversold. But who knows? It still has a measured move to the 40-ish. Head & Shoulders , now a bear flag.
I'm basing this wildly speculative assertion on a pine script indicator I'm still working on. So, in actuality, I actually have no idea if this will play out, but I wanted to practice interpreting my indicator without the knowledge of hindsight. In simplistic terms, we've now got the 2 solid bars green (on the bottom). Now I'm just waiting for the Big Green...
First I'm going to admit my last attempt at the stock was poorly timed -- I was a pawn being manipulated by the market forces. But, I think now, with 200-sma support, and better trendline support, this might still be a good trade. Might be at the caliber of a bishop or knight strategic entry now. My only criteria is it needs to trade above yesterday's high, so, 2.70...
Looking for this to resume higher soon. May put a mental stop if it closes the day below 12.
I wouldn't short this outright, but the Jan 12.5 puts are going for about the same price. Stock looks like it had the opportunity to mount it's recovery... but that time is over, so lower it must go.
The whole Consumer Discretionary sector is weak (XLY). I don't think AMZN will be immune. I bought the Oct 12 $1,800 puts today for $3.55.
Cheap stock with with a pretty relevant business for today. Thinking it has a move higher soon.
I bought some Nov 16 52.5 calls in the off-chance this starts moving. They cost .02, so seems worth the risk.
Option Strategy for AKRX: 1) Buy Jan 21 $10 put ~$2.75 *2) Sell current month $10 put 1.25 *Repeat this every month until either: 1) Stock declines below 10, 2) Stock rises above trendline, 3) Short month IV declines below 90% I estimate this should yield about 25% monthly... we'll see. Max Loss is 2.50 first month and is a no-lose after the 3rd month.
TWTR tried and failed to recover some losses after confirming H & S. I think should move lower now, to 24-ish.
UTX broke out of Cup and Handle and now has pulled back to previous resistance area of beginning of cup.
Looking for IQV to move higher. Might buy the Nov 130 calls. And depending on credit I can get, offset with selling Oct 135 calls. Earnings is Oct 24 after the 135 calls expire. IV should increase for the 130 calls. Plan is to close this combo before earnings. Might also buy some shares through earnings.
Huge volume on a positive close near the lower trendline suggests we should at least get back to near the upper trendline in the coming week... Only looking for 6%. Not risking a lot of capital initially, but may add if it trades below 9. Stop below bottom trendline.
Looking for break above trendline for continuation to at least 69. Or entry now with a 2 point stop.
Stock is near all time lows and probably will make new lows soon. Small chance it tries to test the upper trendline first, in which case I would stop out of the trade above 7.75. Like CLSD, I would not short this outright, but buy the Jan19 12.5 puts.
Really like this chart. Monthly looks great. Once it breaks above the horizontal line, I expect it will move fast. I'll be buying down to 38 level.