2 year bull flag on NTAP
So this is my first idea and I know it looks like shit but like I said its my first time and I just wanted to get the idea out to the community as fast as possible because earnings are right around the corner. I will be buying calls on this one because I believe it has the potential to go back to the highs from 2000 which was around 120 dollars. So the measured move for this giant cup and handle pattern is around 120 as well....take it for what it is. I believe earnings could be the catalyst for this to breakout of the massive 2 year bullflag and start trending higher or it will possible collapse back to recent lows and double bottom. I am not sure so I will be buying longer dated calls or I might just buy calls for the earnings play and not invest in the longer dated calls.....the 2 year handle is warranted since the cup itself is so massive being that it took 7 years itself to be made. Anyway, good luck to us. If someone sees this and responds I might leave some details on how I am trading this. I wouldn't mind buying some June or July calls on this one. Also keep in mind seasonality for NTAP is kind of shit until the beginning of August. February and April tend be positive months for NTAP
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.