LEVI – Wedge Support Lowered – Pattern Intact
Update from previous chart as wedge support was too high.
Trade Entry
Holding Feb. 21 expiry Put Credit Spread 18/22 strikes.
Chart Details
LEVI price looked to breakdown out of Bull Flag.
Support from previous chart was $18.87 from Jan. 6 low.
Support moved to Dec. 17 low of $18.68. Pattern intact if above exit.
Exit below $18.60
Bullish EMA cross above $19.08.
Price is already above 10WeekMA. EMA Cross will confirm bullish uptrend to gap fill.
About Me
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Website will be ready for launch mid-January 2020. Thank you for your patience while I try to juggle everything and maintain the same standards.
Disclosure - I am long BTCUSD, GBTC. Short term GDX Bullish, SPXS Bullish, BYND Bullish
Previous chart
Trade Entry
Holding Feb. 21 expiry Put Credit Spread 18/22 strikes.
Chart Details
LEVI price looked to breakdown out of Bull Flag.
Support from previous chart was $18.87 from Jan. 6 low.
Support moved to Dec. 17 low of $18.68. Pattern intact if above exit.
Exit below $18.60
Bullish EMA cross above $19.08.
Price is already above 10WeekMA. EMA Cross will confirm bullish uptrend to gap fill.
About Me
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Website will be ready for launch mid-January 2020. Thank you for your patience while I try to juggle everything and maintain the same standards.
Disclosure - I am long BTCUSD, GBTC. Short term GDX Bullish, SPXS Bullish, BYND Bullish
Previous chart
Note
LEVI Undervalued by 39% based on Intrinsic CalculationThis plays into earnings trade mentioned
finance.yahoo.com/news/intrinsic-calculation-levi-strauss-co-140246734.html?.tsrc=rss
Note
I would consider the Stop Reached on this technically speaking.Pattern has broken.
I am staying in current position. I have time with Feb. 21 expiry.
Below 18.10 and I exit, which is 10WeekMA.
4hr is ready to flip bullish with bearish trend since Dec. 17. Long time for 4Hr bearish.
Disclaimer
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