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ETSY - STRONG DIAMOND REVERSAL PATTERN FORMING!! UP OR DOWN?Hey, Hi, Ho, whats up, Seems to me like we have a pretty decent diamon pattern playing out here after a more than massive drop to the stock. I have found, and its also pretty well recognized that although rare, diamond patterns are extremely profitable if played correctly. Not only can you flip short exp calls and puts as the up and down waves are pretty predictable - a long call strategy can give you a really great opportunity to accumulate contracts as the price action goes side to side as you wait for the conclusive breakout. According to the chart the breakout projection is approx $200 which as I have charted it is a key level of resistance/support so that makes sense. Basically its a gap fill of sorts because the price fell HARD from 200 on. On the flip side if the pattern fails and its just a continuation of the current down trend the price target is $80-$90 area - here's hoping it doenst go this way. An importnat note for anyone playing options like myself, there is a significant lopsided amount of PUTS being held in open interest from now until Jan 2024 - obviously this can change however I think its pertinent to notate where it stands now. Price action looks to be topping at this part of the diamond and should roll over down to about $125 by the end of March. IMHO either June 17 or 1/20/23 exp calls are going to be the most valuable As of today I like: 6/17/22 ($175's and $240's) 1/20/23 ($230 CALLS) However time will tell and I will revisit near the end of March or when my bottom alert gets triggered, which ever comes first. NOT FINANCIAL ADVICE.
NASDAQ:ETSYLong
by arich1282
1
Cheap call options - Swing and Squeeze UpI am seeing about 27% short interest in FUBO, but I do not trade on this. My technical reasons are sound, and short interest may drive stock higher if it moves up. There is a large sell block today, 22k, at $8.03, which may clear this week for stock to move higher. Call options are very cheap so I suggest taking 14Apr and later expiry. This stock has not gotten attention yet (unlike other meme stocks) but I think it will. Buying here below 8 gives you a very low risk swing trade with a tremendous reward potential. Weekly chart > RSI and stochastic both are exiting from oversold levels and may see buyers in the next few weeks > Ovals highlight previous move up which could repeat, technically speaking > During price rise marked by oval RSI held over 40, so this this time with it coming from below 30 there may be more buying power > Set 8.40 alert - over this could see a sustained move higher Daily chart > Bullish divergence complete (green lines), followed by strong move over the downtrend line > Stochastic %K gave a warning for more upside price action (rectangle), and %D still has to move higher > Looking for RSI to move over 50 and stay, to support more upside > Green arrow marks a bullish 3 candle move that helped 10ema move over 20sma On 30min chart, 20sma is above the 200ma and the cloud. You can draw a support line from the highs on 18 & 23 March.
NYSE:FUBOLong
by OptionsRising
1
Clovis Oncology CLVS Option CallsBased on my research, I think that the $3 strike price expiring July 15, with the price of $0.21 or lower is what I would pick right now. As you know, the OTM options can be profitable even if they don`t reach the strike price. If the stock moves closer to the strike price after you enter the trade, or if there is a rapid increase in Implied Volatility, you can sell the option for a profit. My personal goal is to transform $10k into $1Million from options trading. Thank you for viewing my out of the money option calls and puts ideas!
CLong
by CryptoCopyTrading