I still think we will be higher in a week then where we are now because it is a retest of break out only, so I am going long here @ 43.55 with protection of equal amount of 43 Puts this is 1-4 week trade. Target is 44.80 area after 44.05 trade will be profitable, max loss scenario is 2% 55 Cents + loss of premium on puts. Other way is to go long and put a stop @ 42.80 but they can run stop in short term. This pattern will have high probability if we close above 43.80. JMHOP. Do your own D/D. Good luck.
Farooq This post is for educational and amusement purposes only, and is not to be interpreted as trading advice. Consult your financial adviser before placing any trade.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.