IWM $164P 1/20/23
We had a double top $189 and a hard rejection I noticed that greed was really heavy around that area. Then we broke and retested the $176 area. Seeing how we've got a ton of 200 MA's above us, I would enter here and if we come back to $176, average into the position. I've had numerous bearish signals over the last month and I'm pretty confident about this position. I set my TP at $164 because, last time we were at those levels we had a lot of fear in the market. Also on June 15th 2022 and October 12th 2020 we saw violent reactions to this level. I'd rather claim my gains than to fight support.
Follow me to keep up with my calls I'll try to make sure post at least once per week.
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IWM
Follow me to keep up with my calls I'll try to make sure post at least once per week.
Leave a comment if you have a specific ticker you'd like me to analyze.
IWM
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