ZIM - Classic B Wave Setup
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Penny Man Here lads.
As you know, CitiGroup downgraded ZIM to a sell rating, causing price to cascade in a massive onslaught closing almost 20% down in a single trading day. Looking for a B-Wave setup,.
NOT going long on the expected come-up for the B wave.
I do plan on buying some short-term puts that are OTM. Probably give them 1-2 weeks time with the strike price at the bottom of the initial A wave ($19.00)
Monitoring it as it goes for Monday!
As you know, CitiGroup downgraded ZIM to a sell rating, causing price to cascade in a massive onslaught closing almost 20% down in a single trading day. Looking for a B-Wave setup,.
NOT going long on the expected come-up for the B wave.
I do plan on buying some short-term puts that are OTM. Probably give them 1-2 weeks time with the strike price at the bottom of the initial A wave ($19.00)
Monitoring it as it goes for Monday!
Commento
Updated structure - looks like a W-X-Y, and if it plays out this way, will def be looking to make a long play.
Commento
Still no trades, and glad for it. Luckily that open Tuesday was violent. Have 2 potential scenarios playing out. Unsure of which wave-count is accurate, but for now sitting on the sideline to see how this develops.Bearish setup:
Bullish Setup: (no details on where it will go exactly, but this count assumes that the correction is complete)
Commento
We're looking for bullish movement, probably will consolidate slowly over these next few days.
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