iShares Russell 2000 ETFUpdated IWM - 6/19 expiry 135 calls or 110 puts
Today's daily candle is showing indecision thus far. I am watching daily and 30min charts. There is a support line at 123.84. While daily stochastic is over RSI, RSI is under 50 still on 30min chart. I am leaning towards calls but will wait until Tuesday to open a trade.
Trade active
Opened Jun 19, 110 puts @ $2.10.While priced moved higher today I see on 30 min chart there is cloud resistance and the lower open between April 29-30 created a sharp stochastic %K drop (from over 80 to under 20). I use this as a "warning" signal of a larger move down to come.
On the weekly chart, there is room to move up to the 20SMA, so this is a caution note. Economic data later this week will give support to a return to highs or it will undo the recent market gains. IWM price will be affected by this data.
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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.