PZZA short opportunity
PZZA (Papa Johns) is looking like a solid short set up.
Logic:
Wait for a good downside move, then consider buying May 77.50 puts. This stock may print a few more dojis or even test the 81.21 resistance before continuing down, so be patient!
Logic:
- Breakdown of support on Feb 22nd on serious volume.
- bounce off 73.63 support in a descending wedge pattern followed by a recovery up.
- Trouble the past two days breaking the closing price of the Fed 22nd move, as evidenced by the long wick yesterday.
- H&S pattern forming.
- cloud resistance at current price.
Wait for a good downside move, then consider buying May 77.50 puts. This stock may print a few more dojis or even test the 81.21 resistance before continuing down, so be patient!
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