Optionstrading
$MRVL Long Idea - Wyckoff accumulationMarvell Tech
Bull case : Wyckoff accumulation pattern with 78 resistance , expect some digestion there and then it's on Phase E where I see 90 and first price target in coming months (green arrow)
Bear case : rejected at 78 and "double top" , it's at least back down to test rounded base at 70 zone, break there and it's back to 60 support...
Today's flow was very bullish with a buyer of 1/20/23 90 calls and 6/17/2022 77.5 calls .
I think this rally is just getting started and my bias is to the upside , I'm long .
$AMGN watch for break of the 240 zoneSellers have been present in Amgen , keeping this stock under the 240 zone since FEB's pop.
Lot of dark pool and call option flow showing bullish signs as the stock continues consolidating and eating away supply.
I think the bulls win here, alarm it for $240 as a good long idea.
I'm in a starter JAN 275c looking to add more positions upon breakout
Conversely , if bulls fail to capitalize downside target would be 220 zone.