Last 2 days shows doji's on the Daily chart. That doesn't show much conviction but they both closed above the 8ema, which is bullish. We also charged right through the 20 sma, the 3ema crossed over the 8ema, and the DMI+ crossed over the DMI-. These are all bullish.
However, we still need to get through some resistance around 148 and then the Cup & Handle "brim line". Its too early to make a confident call.
I don't think our Feb 14th 150/155 Call Spread is going to survive. We'd need some large green candles to get the full spread. If the first handle was the only handle, like a normal Cup & Handle pattern, we had a good chance of the spread expiring in the money. But wee had this large unexpected bigger handle that set us back.
Holding on to both Call Spreads for now.
No comments:
Post a Comment