SHAK – Bullish Gap Fill - Real Meat Gets Bullish
Updated
Trade Entry
Feb. 14 Expiry. Put Credit Spread. 59/64 Strikes. Credit of $3.00 (no lower than $2.90)
Risk $210. Reward $290-$300. POP - 65%
Chart Details
Large $10 gap from $71-$81. This must get filled IMO.
White trendline is stop. Break of white trendline and trade above is invalid ($59.50 or less).
Bullish EMA cross just occurred last Friday, 1/10.
Bullish 10WeekMA price cross with Bullish EMA Cross is 80% guaranteed or greater IMO.
Earnings play. Expected reporting date may be Feb. 24, not March. 3 (as shown on TradingView). Need to confirm as we get nearer. Source Zacks- zacks.com/stock/quote/SHAK?q=shak
Credit to Bullishcharts for this idea after discussing BYND .
Maybe we can both profit off a real meat rally, just like we did off the fake meat rally. LOL
I will update if I enter this trade personally. If I enter personally, I will provide updates as we go :)
About Me
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Website will be ready for launch mid-January 2020.
Disclosure - I am long BTCUSD, GBTC. Short term GDX Bullish, SPXS Bullish, MCD Bullish
Feb. 14 Expiry. Put Credit Spread. 59/64 Strikes. Credit of $3.00 (no lower than $2.90)
Risk $210. Reward $290-$300. POP - 65%
Chart Details
Large $10 gap from $71-$81. This must get filled IMO.
White trendline is stop. Break of white trendline and trade above is invalid ($59.50 or less).
Bullish EMA cross just occurred last Friday, 1/10.
Bullish 10WeekMA price cross with Bullish EMA Cross is 80% guaranteed or greater IMO.
Earnings play. Expected reporting date may be Feb. 24, not March. 3 (as shown on TradingView). Need to confirm as we get nearer. Source Zacks- zacks.com/stock/quote/SHAK?q=shak
Credit to Bullishcharts for this idea after discussing BYND .
Maybe we can both profit off a real meat rally, just like we did off the fake meat rally. LOL
I will update if I enter this trade personally. If I enter personally, I will provide updates as we go :)
About Me
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Website will be ready for launch mid-January 2020.
Disclosure - I am long BTCUSD, GBTC. Short term GDX Bullish, SPXS Bullish, MCD Bullish
Trade closed: target reached
Opening order credit of $3.20. 2 Contracts. Close order $1.44. Profit $349.05 on 2 contract spread. 1 day hold.
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.