OptionsRising

OptionsRising

After three days of SPY daily candles just under the line, Friday pushed higher and closed over the line. Lacking however, was a notable volume increase, and many sentiment/market indicators are leaning into the extreme greed area. A longer term Chande Momentum Oscillator (21 days) shows caution because the line is over 50. SPY opened over the line today, so it...

OptionsRising

After the Feb-Mar drop in price, this stock has been in a rising consolidation since. Price recently broke red dashed support line and has come up near it. After earnings, price can easily move $10 in either direction. One caution though, buyers could also come in on a price drop since this earnings may be weak but there is expectation for bank stocks to rise...

OptionsRising

The white dotted line connects closing prices to show the downtrend is broken. After IPO the price steadily declined, but now price has turned and made a higher high. See notes on chart. I find this stock technically attractive because price has not yet shown a parabolic increase. I will be looking for weekly RSI to stay over 50 (it might test this level with...

OptionsRising

After Monday's gap higher open and sell off, the 60m support line held (white dotted line). RSI is moving towards 70. This is a short term trade idea, for day trades this week, or use 10/16 expiry or later if you are holding overnight.

OptionsRising

Please first read the chart note first. The dashed light blue line shows 21 as resistance, and yesterday the little doji candle, thought it shows indecision about moving higher, closed at 21.01. The green dotted vertical lines show that previously the two bullish runs happened after RSI crossed 70. Will the same thing happen a third time? Directional movement...

OptionsRising

Price broke below the white trend line support, which is now resistance. The red X's mark good spots to buy puts: between the 10sma and white line, or if buyers push price a little higher then at the 20sma. As price moves up, you will also see RSI come up to the 50 line (red X). This is where you enter puts with low risk. If stock sees more selling, then price...

OptionsRising

I rarely trade earnings. When I look at the weekly I see price is extended from MA's. This could open lower tomorrow and/or end lower as it did between 9/2-9/3, if there is profit taking before earni ngs. Alternatively watch this for a nice Friday day trade, or a swing trade will set up that carries into next week. This could head lower to 70 or go up to 100. ...

OptionsRising

I encourage you first to look at the weekly chart and see that 10sma is over the 20sma, price has held over the 20sma, and RSI-7 is over RSI-14 and hovering around 50 line. Then see daily chart and notice the consolidation since June looks like an inverted head and shoulders is completing, and RSI is again hovering around 50 line. This provides context for my...

OptionsRising Updated 

I hope every options trader sees this chart. On the daily chart, August 31 closed as a bullish engulfing, though small body and after a completely indecisive doji. RSI over 50 supports calls if the high of Monday's candle is broken. It seems overbought, so caution is warranted, meaning you want a good signal. Here on 30 min chart, you see price has been...

OptionsRising Updated 

Supply will run out, unless more people are willing to buy so high. You can take puts now with a tight stop (or partial stop) over 133, or wait for 15/30 min. chart signal. Will today's candle be an inverted hammer? Also see the weekly chart for support for this idea.

OptionsRising Updated 

The box on RSI shows a double dip of the 7-day RSI. 14-day has not touched the 50 line but the higher open this week is a good indication. On daily chart price has consolidated after a $100 move up and seems to be taking support off 100-day MA.

OptionsRising

I have been watching this stock for a while, and this is possibly a double top showing bearish divergence. Directional volume has seen buyers "ruling" for a while now and it may be time for supply to pick up (more selling). You can also add trend lines to the chart and use 30m chart for entry. On the weekly chart today's candle was 2 pennies away from being a...

OptionsRising Updated 

I know I just posted a chart for calls (see link), but the move happened between yesterday and today and now I see a greater opportunity to the downside unless prices moves past 266-267 again. The solid white line connects closing prices on a line chart, while the dotted line connects lows. Both lines are drawn from Dec. 2018 and early Jun. 2019. Stock went over...

OptionsRising Updated 

See daily chart along with this 30min look. RSI has tested 50 line twice and is holding above it (see black box on chart RSI. There are two dotted lines for upper resistance, depending on how you draw your lines. I prefer the upper dotted line, but I bought calls based on the higher high and the potential bounce off 10sma on daily chart. Also the directional...

OptionsRising Updated 

Review chart in detail - remember this is weekly. Yellow flags and dotted lines show RSI peak and directional volume buying at peak. Green dotted line shows RSI divergence and higher prices before sell off, which is indicated with red arrows. Red line on RSI shows bearish turn. Red oval on DMI shows selling volume increase and buying drop. Now whether this...

OptionsRising Updated 

The directional volume (DMI) shows average volume has been low and the green line has just crossed up over the red, indicating a rise in buying. Today shows a nice follow through after a move over the 20sma and two days of consolidation that stayed over the 10sma. Most importantly, RSI crossed over 50, came back to test it, and today is higher again. This along...

OptionsRising Updated 

Please see notes on chart, and look at daily and weekly chart to form your perspective. Note how high price is above 10sma (around 179), on weekly! I suggest weekly 295 or 290 puts, or go out further and buy 180 puts. Use 15-30 min chart to plan your entry.

OptionsRising

Note is on chart. Over past three weeks, CNN fear-greed index has climbed from 63 to 71. TradingView technicals on DJI are also in strong buy zone. Market bias is up, but take profits along the way, as greed is taking over.