Pend. Pick bullish MITT tgt $10
I do dowsing, as in with a pendulum swinging to answers to my questions about the market and stocks.
So, this morning my pendulum suggested I let it pick a stock. I do this off of a stock screener on my ipad and there are literally thousands of tickers. The ticker of the day is for a REIT.
I'm not usually familiar with the names of these companies & I do not look at charts prior to asking what the direction or guidance is for them. I don't need any biases influencing results!
The energy of MITT is bullish & suggests there could be news coming. I'm starting to learn to look at the options open interest after the experience with my other idea, MIRM. There were almost NO options traded on it, yet huge open interest of 1900 calls purchased all in one day.
MITT also has some "extra" options; all on the call side.
My target is around the $10 mark. In the past these levels have hit & sometimes they simply consolidate & go higher, other times they completely reverse in a very ugly way. I get that this will make a big high, so it's possible there's then a short opportunity. I will check when we get up over $9. Options are so crazy cheap, at least for next weeks expiry.
For technicals, it tested the 200 sma today and bounced right off it. There is also an 11% dividend (according to my husband).
Good luck!
So, this morning my pendulum suggested I let it pick a stock. I do this off of a stock screener on my ipad and there are literally thousands of tickers. The ticker of the day is for a REIT.
I'm not usually familiar with the names of these companies & I do not look at charts prior to asking what the direction or guidance is for them. I don't need any biases influencing results!
The energy of MITT is bullish & suggests there could be news coming. I'm starting to learn to look at the options open interest after the experience with my other idea, MIRM. There were almost NO options traded on it, yet huge open interest of 1900 calls purchased all in one day.
MITT also has some "extra" options; all on the call side.
My target is around the $10 mark. In the past these levels have hit & sometimes they simply consolidate & go higher, other times they completely reverse in a very ugly way. I get that this will make a big high, so it's possible there's then a short opportunity. I will check when we get up over $9. Options are so crazy cheap, at least for next weeks expiry.
For technicals, it tested the 200 sma today and bounced right off it. There is also an 11% dividend (according to my husband).
Good luck!
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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.