II-VI Fails Support Line of Trend: Outlier or meaningful?IIVI was cited as a LONG with a strong upward trend in its trading channel, but it has since failed the support line of that channel.
For this trader at least, that represented a partial-exit from the position.
That is not advice, but the decision was made to shorten my position on II-VI even as it has only descended a still-significant 1.59% on the trading day (MON).
If II-VI returns to the channel within a trading day or two, this could just be an outlier and not statistically significant: The relation would be to the overall downward trend of the S&P 500 itself, which suffered a miserable Monday and is showing some signs of further weakening, even.
This is not just to sound some doom alarm, but the overall buyer confidence throughout most market sectors is low, even with IIVI playing a massive role in Apple's 5g networks. The strength of this stock longer-term could still be immense, but it just failed the support line.
Happy trading.
-BDR
Post Note: 3 links to previous Ideas Re: II-VI present here.
Ii-vi
II-VI Target Defined: 50.08 EXIT-POINT? Realized by OCT 28?This is merely chart work ideas and not expected to serve as hard-line advice; do your own research, etc.
II-VI potential 1/2 or full-exit just over 50/s per the trade channel w/ a (POTENTIAL) Spike out of it, to the 50+ range by OCT 27-29; Closes month 50+/s
This is (ALSO) not advising for an option on a call at all. It is speculating a high immediate upside for this as a potential take-profit point w/ entry having been initially made at 40/s. The 25% ROI will be nice if realized.
Thanks, GL, and so on!
-BDR
$IIVI II-VI Proving Stronger than Anticpated, Even$IIVI has been on the rise since the News it would function largely in the production of Apple 5g. A previous LONG was called while still <41 / s, and it is now hovering near 45/s. That said, an entry at this point for a mega-long still makes plenty of sense.
The adjusted trend lines show the (perfect) entry and exit points within the last month: The green trend should provide some guidance again if it breaks the NEW-upper resistance-point.
See related Idea from OCT 2nd for additional info Re: II-VI.
What we are watching now is to see if it begins some sideways trading action as it reaches a mid-point of the (more-narrow) new green channel.
There is a sense this could reach another level/equilibrium point which really only does one thing: leaves open a massive buy-window before the next rise. Presumably so, at least.
