VST 1-4 week swing (or longer)
Updated
VST Idea.
A utility set to continue to benefit from the AI space
I got burned on this a few months ago, but it just wasn't time yet. Since then, it has had a great reality check, along with a few key levels, demand zones, and MAs.
Stronger conviction over last weeks high, but I'm not likely waiting for that. So long as it's above the 5d ema on Tuesday, I'm going to buy for a swing. Likely looking at Oct cons to start, and I kind of like the Oct 80c. The 90's look great too, just not my style.
I have several levels marked on my chart, as these are mainly area's where I'll be watching the reactions, but each level could be a good trim spot depending on cons bot. It looks like there might still be some weekly supply there starting at 89.95, so this will likely be a trim or roll level for me. It's also the same level that started the huge sell off in Jul.
Ultimate Target is 97.75
SL is just below the daily demand currently, about 78.75, but I will move that up if this current zone becomes the next demand level. Ideally somewhere around 81.70 will be my new SL if that happens
It's very likely that we could see ATHs test this year or Q1 '25, as this is a utility name that will continue to benefit from the AI boom. If we reach 97.75 with some strength, I may reevaluate and roll out to a longer date.
Since their last EPS report, which was in the positive, price has been grinding upwards
A utility set to continue to benefit from the AI space
I got burned on this a few months ago, but it just wasn't time yet. Since then, it has had a great reality check, along with a few key levels, demand zones, and MAs.
Stronger conviction over last weeks high, but I'm not likely waiting for that. So long as it's above the 5d ema on Tuesday, I'm going to buy for a swing. Likely looking at Oct cons to start, and I kind of like the Oct 80c. The 90's look great too, just not my style.
I have several levels marked on my chart, as these are mainly area's where I'll be watching the reactions, but each level could be a good trim spot depending on cons bot. It looks like there might still be some weekly supply there starting at 89.95, so this will likely be a trim or roll level for me. It's also the same level that started the huge sell off in Jul.
Ultimate Target is 97.75
SL is just below the daily demand currently, about 78.75, but I will move that up if this current zone becomes the next demand level. Ideally somewhere around 81.70 will be my new SL if that happens
It's very likely that we could see ATHs test this year or Q1 '25, as this is a utility name that will continue to benefit from the AI boom. If we reach 97.75 with some strength, I may reevaluate and roll out to a longer date.
Since their last EPS report, which was in the positive, price has been grinding upwards
Order cancelled
Did not open above that 5d ema, and the idea is no longer valid
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