The key level to monitor here is $18. SA took a tumble after establishing a recent high (not ATH) at 20.55. As of Friday it is still holding its long term uptrend line that started in February.
How I would play this:
A call option to capture the swing on the 4h chart when price closes above of 18, with a stop at 17.5. If it works and I can cover my initial cost, I will keep a few shares through earnings. Profit Target 1) 19 and 2) 20.
How I would play this:
A call option to capture the swing on the 4h chart when price closes above of 18, with a stop at 17.5. If it works and I can cover my initial cost, I will keep a few shares through earnings. Profit Target 1) 19 and 2) 20.
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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.