WKHS Reversal Play
Quick play to start off the weekend
This is an attempt to catch the bottom on the WKHS dip. Recently it has been selling off from the delayed deal with USPS causing a large sell off starting from the 13th. It has been following a bear channel since, marked by the purple trend lines.
Market volatility makes this play very risky but there's always a fine print between risk and reward.
Optimal Entry
Bull Entries:
1. Watch for a bounce at the major support level 14.5 (cyan line). If this level holds I will be going long on it.
2. Break out from the bear channel. If it breaks out, resistances are at 17.4 and 18.15
PT1 18.15
PT2 19.15
SL Cyan line
Bear Entry:
Support loss from the bear channel or a break of the key level (cyan). If support fails to hold possible gap down to 12.2 and 9.9.
PTs Orange levels
SL bullish break of cyan level
No recommended contracts this time because markets are volatile and contracts will change. Go no more than 11/20 unless supports hold very well. Keep SLs tight, if you are unsure, cash is king
This is an attempt to catch the bottom on the WKHS dip. Recently it has been selling off from the delayed deal with USPS causing a large sell off starting from the 13th. It has been following a bear channel since, marked by the purple trend lines.
Market volatility makes this play very risky but there's always a fine print between risk and reward.
Optimal Entry
Bull Entries:
1. Watch for a bounce at the major support level 14.5 (cyan line). If this level holds I will be going long on it.
2. Break out from the bear channel. If it breaks out, resistances are at 17.4 and 18.15
PT1 18.15
PT2 19.15
SL Cyan line
Bear Entry:
Support loss from the bear channel or a break of the key level (cyan). If support fails to hold possible gap down to 12.2 and 9.9.
PTs Orange levels
SL bullish break of cyan level
No recommended contracts this time because markets are volatile and contracts will change. Go no more than 11/20 unless supports hold very well. Keep SLs tight, if you are unsure, cash is king
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