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PAYC - Potential Bullish Pivot What's going on traders? Hope you all had a Happy season. Today, we are looking at Paycom Software NYSE:PAYC and it looks as if it had a nice correction in price recently. The stock was trading at a recent high of $471.08 before dropping nearly 13% to 411.13. That area also lines up with previous resistance areas which could be acting as support now. Since then the stock has crossed above the lower Keltner channel (represented by the white dot on the chart) and might be resuming it's trend upward. We will continue to watch PAYC to see if it does move higher over the next few weeks. REMEMBER: Reference to specific securities should not be construed as a recommendation to buy, sell or hold that security. Specific securities are mentioned for educational and informational purposes only. YouCanTrade is an online media publication service which provides investment educational content, ideas and demonstrations, and does not provide investment or trading advice, research or recommendations.
NYSE:PAYCLong
by UnknownUnicorn6775423
$PLTR - Same price, but with better time targets for optionsThis is basically the same setup i posted last night (early this morning) but fine tuned with an Inside Pitchfork instead of a Modified Schiff. I've also tried to math the EW targets with the fib time targets and the pitchfork targets. That is to say, i've tried to get a confluence of all 3 types of analysis and reorganized my elliot wave path to land where these three analyses converge. The price targets haven't changed, but the time targets have been modified (usually extended) to give a move conservative layout which will hopefully be useful for options plays. For example in my previous model, the intermediate wave 3 is projected at a target of $39-$40 around Jan 12, where as with this updated model, we have the same price target but on Jan 21. This matches with the median of the new inside pitchfork, and with the 1 extension of the Fib time projection, as opposed to the 0.786 time projection of the previous model. Im expecting a bounce from the 0.786 retracement, however there is always the possibility of a full retracement to the 100% level and a double bounce from $21. This happened with $Work recently so it's not totally unexpected for a stock that just recently IPO'd and is undergoing its first impulse wave. This is a better representation of how i intend to play it and is mostly here for my own records. I have Feb 19 $32 calls as well as some #yolo Feb 19 $50 calls. If price falls below $21 i will cut my (significant) losses and move on.
PLong
by ir-rizzle
IWM Bullish LongIWM is an Exchange Traded Fund (ETF) which follows the Russell 2000 Small Cap Stock Index. I purchased call options (just regular, no spread) Strike 200 expiring Jan 2022 because I belive IWM has shown consistent bull market uptrend since November, and consistently uses the 10 Day Exponential Moving Average (EMA) as Support. IWM has shown better consistency, in my opinion, than SPY (ETF following S&P 500), and while QQQ (ETF that follows the Nasdaq 100 index) has outperformed most other major indexes in the past few years, IWM's lower prices made it more attractive to me. The growth may be slower than some other indexes; but as my first trading teacher stated, "You don't go broke making money." This may be a boring strategy, but I believe it will still be a profitable one. My stop loss plan is set below the 20 Day EMA. The yellow dotted line is the approximate price per share of stock when I purchased my calls earlier today. I am not certified or licensed by any individual or institution to give financial or investment advice. I consider myself to be an amateur investor and trader.
AMEX:IWMLong
by AROD01
3
SPCE Possible ReversalSPCE showing signs of a possible reversal. Gathering/consolidating support along a previous significant resistance level. Volume has typically tapered lower during downtrend which we currently see. High risk play entering right now, I'd like to see more confirmation first before entering (RSI divergence along lows or break of pinbar printed on 11/30. Heavy eyes on the 1/15/21 $25c and $30c. Volume seems to be focused there. Leave a comment to discuss!!!
NYSE:SPCELong
by NetWorthFocused
2
DHR - Which way is it going?Danaher corporation NYSE:DHR is looking like it wants to break out but it has been caught between the 8 and 21 EMA for about 5 days. We know that price does not stay in a consolidated area forever, but can take its sweet time before it decides to move. Currently, the price for DHR is $225 per share, which is between the upper and lower Bollinger bands. The upper Bollinger band is near $233 while the lower Bollinger band is near $217. The question remains...which way will it go? Backing out to a weekly timeframe, DHR has been in an uptrend and is pulling back to the 8 EMA on the weekly chart. It has seen good support from pullbacks to this area in the past...however as always, past performance does not indicate future results. We simply use the past to get an idea of what could happen and where to set our stops in case it doesn't play out as expected. So based on the weekly chart, we are seeing a strong uptrend showing a pullback, and on the daily chart pictured above, we see that price is consolidating to break out. My guess is that the stock will try to push higher and will try to break above the upper Bollinger band as we head towards the New Year. REMEMBER: Reference to specific securities should not be construed as a recommendation to buy, sell or hold that security. Specific securities are mentioned for educational and informational purposes only. YouCanTrade is an online media publication service which provides investment educational content, ideas and demonstrations, and does not provide investment or trading advice, research or recommendations.
NYSE:DHRLong
by UnknownUnicorn6775423