Long
20-30% Chance in Splunk | Bullish Divergence on the Weekly |
A weekly close above this level could mean some upside. Maybe a Gap-Close or bouncing around in this Wedge.
Possible Chart Patterns:
bullish: Double Bottom (Target 248)
bearish: Head-And_Shoulder (Target 90-95)
Nevertheless, it is at the Neckline of a Head-And-Shoulders, so be cautious of a break out of this Wedge
Also the near future depends on the Ukraine Crisis (short-term downside possible | 110$ level of Support).
Plan:
Either small buy in now and check for Weekly close and next weeks opening (pullback due to Ukraine Crisis possible) and buy more if it drops to lower trendline of the Wedge.
Sit still and check if Ukraine crisis heats up (whole Market depends on it).
Put-Call-Spread for the near future, if we drop lower: sell puts at trendline and buy more calls.
Please Watch the Indices (leading the Way) and be prepared for Volatility.
A risky play, with good Risk-to-Reward Ratio.
Please be critical of every Analysis you see (no one can foresee the future) and trade on your own risk.
Possible Chart Patterns:
bullish: Double Bottom (Target 248)
bearish: Head-And_Shoulder (Target 90-95)
Nevertheless, it is at the Neckline of a Head-And-Shoulders, so be cautious of a break out of this Wedge
Also the near future depends on the Ukraine Crisis (short-term downside possible | 110$ level of Support).
Plan:
Either small buy in now and check for Weekly close and next weeks opening (pullback due to Ukraine Crisis possible) and buy more if it drops to lower trendline of the Wedge.
Sit still and check if Ukraine crisis heats up (whole Market depends on it).
Put-Call-Spread for the near future, if we drop lower: sell puts at trendline and buy more calls.
Please Watch the Indices (leading the Way) and be prepared for Volatility.
A risky play, with good Risk-to-Reward Ratio.
Please be critical of every Analysis you see (no one can foresee the future) and trade on your own risk.
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.