Cup and Handle Formed, from my perspective...
I wrote out my view of the Sloping Resistance and my thought of the Sloping Support...
This is the range it will most likely bounce from (Support) and reject at (Resistanct)...
As you can see, support has been reached and the expected bounce is in play...
Look at previous run ups, usually the run up happens within 30-60 days and by large margins...
Fav Option 225C option expiring 11/1, which happens to be the day after earnings...
This is definitely on my Fli CIty Options Watchlist.
I wrote out my view of the Sloping Resistance and my thought of the Sloping Support...
This is the range it will most likely bounce from (Support) and reject at (Resistanct)...
As you can see, support has been reached and the expected bounce is in play...
Look at previous run ups, usually the run up happens within 30-60 days and by large margins...
Fav Option 225C option expiring 11/1, which happens to be the day after earnings...
This is definitely on my Fli CIty Options Watchlist.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.