Found this on Tradingview.com stock screener (>500k volume/day, >$20/share, Sorted by ATR).
Here are the Bullish indications I see:
- Double Bottom off 61.8% Fibonacci retracement
- Trendline Breakout
- 50sma Breakout and Retest
- Close above all Moving Averages
- Bullish Harami Candlestick pattern
- Gap up
- Scoop pattern
So, I got a Crowdstrike May 220/230 Call Spread for $4.39. Of course, this is $10 wide spread, so the potential profit is $10 - 4.39 = $5.61 * 100 shares = $561. This is better than a 1:1 Risk:Reward.
Soon as the order was filled I entered a Limit Sell order for $9.95. No reason to wait. I always enter my Take Profit order and Stop orders immediately. Why not? Sometimes I don't enter a Stop order when I have a fixed maximum possible loss when using options.
My price target based on this very Bullish setup is to reach at least the 27.2% Fibonacci extension at 287.32 and potentially the 61.8% extension at 333.31. Even the lower target is well above the 230 top of the Call spread. I expect there to some trade management going forward to take advantage of a strong upward move, but anything can happen, so let's ease into it and see if the potential converts to paper gains.
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