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LEAR CORPORATION

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LEA trade ideas

LEA, nice double bottomHey guys, so LEA has great long term bullihs trend and was consolidate for a few weeks ( distrubition phase) with low volume and today it broke out with good volume and there was a nie gap at the open also. The candle finished strong and i bough it at the end of the day. Also yesterday people were trying to sell from the the resistance so all these people who sell at the resistance were trapped... and that cause a buying pressure and this is where i got in at the end of the day Also,if you look at the chart, we can see a nice double bottom, that breaks from its neckline ( the green line). All the downside line in blue that i putted was to show that these people were trapped and they probably got stopped ( red line) and that makes them buy the stock to close their position.
NYSE:LEALong
by WilliamL
LEA has a Date with $91Lear Corporation manufactures, assembles, and supplies automotive seating, electrical distribution systems, and related components primarily to original equipment manufacturers across the world. I watch for Unusual Options Activity and I saw a HUGE Call buyer of the June 90 Calls for $2.10. Then I looked and the Open Interest of this line was over 51,000. This means that a trader has the right but not obligation to buy 5.1 Million Shares of LEA at $90 between now and June. With an order that is this large and the stock only trades about 80,000 Shares in a day, this is a perfect time to get long LEA, but I did this through Call Options. However, a trader sets up well to the long side: The Trade: Buy LEA at $83.40 Stop Loss: $79.40 Target #1: $85.40 Target #2: $87.40 Target #3: $89.40 Target #4: $91.40 Once I get filled in target #2, if I want I can move my stop to breakeven.
NYSE:LEALong
by KeeneOnMarket
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