Well, we're back in UAL to the long side. Today we gapped up at the open and didn't even try to fill it. The candlestick pattern is a "Doji Gap Up", which is very Bullish. We just continued higher and closed above the 8ema, and above the 20sma. We also had an ADX bullish cross.
Unfortunately, we're up against two different Trend Lines. This could provide some resistance, and could actually drive us back down to fill the gap.
We're still in the Gartley pattern on the Daily chart, and the D point has not been violated. This trade is still valid. So, got a UAL Sep 50 Call for $1.01. Same strike price as last time.
If we clear the current resistance, then we have to deal with the 200sma and 50sma at about 49.50.
The Target is still .618AD (the 61.8% Fibonacci retracement of the range between A=63.70 and D=42.56) at 55.62.
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