Another Low risk High reward Opportunity
The gray bar shows price range from 22-33. Stochastic %D has been oversold for so long that this may have a nice burst up. RSI is also showing bullish divergence. Remember this is a weekly chart so you must allow time in your trade.
You can buy stock or calls to the top of the zone and hold for more upside or take profits and enter a new trade later. You can easily exit below 22, or if using calls you might want to consider partial stops.
You can buy stock or calls to the top of the zone and hold for more upside or take profits and enter a new trade later. You can easily exit below 22, or if using calls you might want to consider partial stops.
Nota
A note about the daily chart warrants small position sizing until daily chart becomes more bullish. Price could be completing an inverse H&S pattern in which case this is a good place to take along position. However daily %D stochastic is still flat below 20 so price could head down to 23-22 again. 30min chart shows this could be a rising channel consolidation that breaks lower.Nota
Bought stock at 23.70Nota
Bought a few June monthly 40 strike calls for 48 cents, holding through earnings.Nota
My apologies for not updating this - price action did not improve within a few days of buying calls so I exited 18-19April.
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