X- Speculative Call option trade as it forming a Flag formation
Updated
X seems forming a possible Flag formation, clearly seen in weekly chart. It also shows a small downward channel. At the breakout it can go up to 55 area, and to catch the gain we would consider $33 March Calls.
Trade Criteria
Date first found- January 25, 2017
Entry Target Criteria- Speculative entry point at current price, confirmation at the Break of channel ($36.67)
Exit Target Criteria- First target $45, Second target $55
Option- $33 March-17 Calls, currently $3.10/3.15
Stop Loss Criteria- N/A
(Note: Trade update is delayed here.)
Trade Criteria
Date first found- January 25, 2017
Entry Target Criteria- Speculative entry point at current price, confirmation at the Break of channel ($36.67)
Exit Target Criteria- First target $45, Second target $55
Option- $33 March-17 Calls, currently $3.10/3.15
Stop Loss Criteria- N/A
(Note: Trade update is delayed here.)
Note
January 26th- Reversed from lower channel line & went up 4.3% today, Still we are waiting for the breakout. January 25th- Traded down & tested lower channel line, waiting for Channel breakout.
Note
February 1st- In reaction to earnings price it started the day slightly higher, but Rejected from MA 50 & declined to lower channel line, not looking very good as long any more. Keeping in watch list for few more days.February 2nd- Bounced back from lower channel line & went up huge 11.24% today with huge volume. Seems the positive earnings acting now. Yet to hit our entry criteria but looking very bullish.
February 8th- Showing strength but not close to opening price yet. Would consider $33 March look good if it breaks resistance at $36.00
February 9th- Went up huge 8.25% today & hit entry price. Looking very good as long. $33 Mar-17 Calls last traded for $5.20, that is 65% higher from our discussed entry.
Like what you see? Get full access to our 3X daily members only video/txt alerts & live trading room at smartmoneytrading.com/now
Check out some of our free video examples @ smartmoneytrading.com/insights/
Check out some of our free video examples @ smartmoneytrading.com/insights/
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.