UAL United Airlines Pre Earnings LONG
UAL has been in a persistent trend up for a couple of months after great earnings were reported
in early May with another due on July 19th. The airports have been quite busy with vacation
travel and UAL has been part of that action. On the 1H chart, price has been supported by
the mean VWAP and has oscillated to the one standard deviation line above that. I see a target
as 56.80 where the the second deviation lines above the mean aVWAP while placing a stop loss
just under the blue line of one STD above VWAP. The price is below the POC line of the volume
profile which should act as a magnet pulling the price higher. The MACD indicator shows 4
the lines in parallel and above the zero horizontal line with a positive histogram. The relative
volatility indicator shows sufficient volatility to support momentum trading.
I will take a long trade going into earnings. I will do this with ten call options contracts
with a strike at $57 expiring on July 21st. On the last trading day, this contract had
a low of $ 0.95 and a high of $1.32 for a range of 35% in a single day. I expect similar
price action as the earnings date approaches. I expect to pay about $1320 for ten contracts
and the profit expectation is 100% over the next 10 trading days.
in early May with another due on July 19th. The airports have been quite busy with vacation
travel and UAL has been part of that action. On the 1H chart, price has been supported by
the mean VWAP and has oscillated to the one standard deviation line above that. I see a target
as 56.80 where the the second deviation lines above the mean aVWAP while placing a stop loss
just under the blue line of one STD above VWAP. The price is below the POC line of the volume
profile which should act as a magnet pulling the price higher. The MACD indicator shows 4
the lines in parallel and above the zero horizontal line with a positive histogram. The relative
volatility indicator shows sufficient volatility to support momentum trading.
I will take a long trade going into earnings. I will do this with ten call options contracts
with a strike at $57 expiring on July 21st. On the last trading day, this contract had
a low of $ 0.95 and a high of $1.32 for a range of 35% in a single day. I expect similar
price action as the earnings date approaches. I expect to pay about $1320 for ten contracts
and the profit expectation is 100% over the next 10 trading days.
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