T-minus 7 days till FEYE reaches apex of pennant
Updated
Go long FEYE. It appears to be building significant strength. Hopefully, this launches past resistance within the next 7 days. A shortened trading week this week will hopefully result in pent-up trading demand being unleashed. Don't forget there is still somewhere around $5 trillion dollars in money market funds waiting to be deployed in the stock market.
Trade active
I may have jumped the gun on this trade by focusing on shorter time frames such as the 4H. On the daily chart, there is a juicy flag that has formed. Very bullish-looking chart. More cybersecurity ETFs coming to market should help with inflows as this will easily be in the top ten holdings of each one (the good ones at least). This thing looks so ripe for the picking. I've averaged down along the way to the point of having quite a large position and am now selling calls against it.
The trade is still on! Run it!
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