$JKS Head & Shoulders - Downside Incoming?
Looking at this Head and Shoulders pattern from mid August to present, also note the double top in last July and November. Solar sector as a whole is getting beat up everywhere at the moment, and it feels like the writing is on the wall here for 
JKS
Their earnings are coming up at the start of March, so I feel there is a danger we catch a little bounce here and consolidate 'til then. However - the setup is here, and I don't want to miss it
I don't really want to see price back above $41. In fact, ideal situation tomorrow is that we get a little upwards move on the market early in the day, and I can find an good entry for a put position whilst price is above $40, with $41 as the stop. If price needs to consolidate and range a little whilst the Market digests this week's upcoming big earnings, then above $41 I don't wanna be involved in the decision making, and would rather take the trade on the breakdown rather than in anticipation if that ends up being the case.
I'm going to be going for March expiry, and I'm going to be going ITM for the main swing position. If we get clear breakdown below $39.00 with conviction then I might day trade weeklies simultaneously and just zone in onJKS all week.
I'd like the flexibility of letting the swing position run and breathe (whilst trend remains) and trying to take scalps/day trades on weeklies. I've recently had great initial put entries on MTTR, FCEL, and back a little while longer ago on BNED - and each time I didn't show enough patience to hold my puts through long enough and I didn't capitalise nearly as much as I should have on these massive downward runs
No distinct concrete target, but I'd like at least $36.00 and even down to $32.00 I don't think is out of realm of possibility. I think anywhere below that we'll have to be on alert for a bounce around $30 region. But we'll play it as it comes. Hoping to nail this one. But willing to be wrong . Will add to this post tomorrow if I take an entry, with what I bought, when I bought, and for what price.
*this is not Financial Advice, and is merely my opinion and idea*
JKSTheir earnings are coming up at the start of March, so I feel there is a danger we catch a little bounce here and consolidate 'til then. However - the setup is here, and I don't want to miss it
I don't really want to see price back above $41. In fact, ideal situation tomorrow is that we get a little upwards move on the market early in the day, and I can find an good entry for a put position whilst price is above $40, with $41 as the stop. If price needs to consolidate and range a little whilst the Market digests this week's upcoming big earnings, then above $41 I don't wanna be involved in the decision making, and would rather take the trade on the breakdown rather than in anticipation if that ends up being the case.
I'm going to be going for March expiry, and I'm going to be going ITM for the main swing position. If we get clear breakdown below $39.00 with conviction then I might day trade weeklies simultaneously and just zone in on
JKS all week. I'd like the flexibility of letting the swing position run and breathe (whilst trend remains) and trying to take scalps/day trades on weeklies. I've recently had great initial put entries on MTTR, FCEL, and back a little while longer ago on BNED - and each time I didn't show enough patience to hold my puts through long enough and I didn't capitalise nearly as much as I should have on these massive downward runs
No distinct concrete target, but I'd like at least $36.00 and even down to $32.00 I don't think is out of realm of possibility. I think anywhere below that we'll have to be on alert for a bounce around $30 region. But we'll play it as it comes. Hoping to nail this one. But willing to be wrong . Will add to this post tomorrow if I take an entry, with what I bought, when I bought, and for what price.
*this is not Financial Advice, and is merely my opinion and idea*
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.