OUT is an outdoor REIT ad company (billboards) that seems to have formed a bullish inverted H&S after retesting & bouncing off 61.8% retracement from June highs or $12.50. I am looking for OUT to push up to the 50% retracement line of overall 2020 selloff at $19.25, providing $4 of upside on a $15.35 stock or 26% upside. December $17.50 calls had a large volume hit on Friday and are pricing in just less than 10% move at $1.60 premiums for breakeven price of $19.10. Normally I'd look for more upside but with the paper that hit I want to stay long $OUT.
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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.