Long
LONG XLNX
Weekly Inverse H&S presents us a pretty decent long opportunity
Purely technical play
Entering at the break of 110 confirmed by a weekly candle closing above 110. This would mean that this trade could take another 1-2 weeks to materialize
One way to play this is to purchase an ATM leap call for jan 2022 expiration with the intention of closing once price hits 120-130 depending on price action and momentum
Enter at the break of 110$
Stop loss would be the previous swing low candle
- hypothetically if we break this week, I would set my stop loss at 103$ with the intention of moving it to 110$ once this stock has move 5-10% up.
lastly a catalsyt like such could send XLNX soaring on a speculative acquisition: (I am unable to link but you can search "AMD Is in Advanced Talks to Buy Xilinx"
I personally am planning to enter before the break of 110$ before the news/rumour annoucement
I'll be looking to purchase the 110$ Jan 2021 Calls for 6.70$/contract and will likely purchase 4 to start. An alternative I am considering is the Nov 20 110 calls for 4.50
I will exit the trade if XLNX closes at or below my swing low of 100/103ish dollars
Purely technical play
Entering at the break of 110 confirmed by a weekly candle closing above 110. This would mean that this trade could take another 1-2 weeks to materialize
One way to play this is to purchase an ATM leap call for jan 2022 expiration with the intention of closing once price hits 120-130 depending on price action and momentum
Enter at the break of 110$
Stop loss would be the previous swing low candle
- hypothetically if we break this week, I would set my stop loss at 103$ with the intention of moving it to 110$ once this stock has move 5-10% up.
lastly a catalsyt like such could send XLNX soaring on a speculative acquisition: (I am unable to link but you can search "AMD Is in Advanced Talks to Buy Xilinx"
I personally am planning to enter before the break of 110$ before the news/rumour annoucement
I'll be looking to purchase the 110$ Jan 2021 Calls for 6.70$/contract and will likely purchase 4 to start. An alternative I am considering is the Nov 20 110 calls for 4.50
I will exit the trade if XLNX closes at or below my swing low of 100/103ish dollars
Order cancelled
Overnight gap up - didn't even get a chance to enter
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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.