XLF breaking out?
Updated
Once XLF closes above trend line on weekly chart and opens Monday 2/15/21 higher than Friday's 2/12/21 close I am expecting a breakout. I will be buying September out of the money options around $34. Right now they are $1.20. It could possibly 3x in relativity short period of time. If it is rejected at trend line it could be a triple top and get slapped down pretty hard. I am leaning towards a breakout. I am not a financial advisor. Do your own DD.
Note
XLF closed above the weekly resistance line on the weekly. Closed at an all time high close on the weekly and daily candles. XLF is still 8 cents away from the ATH. If we open at an ATH on Monday I will be adding to my position.Note
Best trade of the year so far! Going to tighten my stop loss so I can lock in profits
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