YUM Breaking Down
YUM today 8/30 saw loss in a trading day that was mostly green on SPY. In the morning it attempted to regain losses from last week, but any strength was quickly sold and the downward trend continued.
- Rejection at 9EMA --> Short Term Downtrend confirmation
- Short Term EMA are bearishly crossing down to the 50 EMA
- Bollinger bands expanding signaling potential continued drop
- Increased volume on downward trend
- RSI below 50 (30), can continue down to 15s
Suggested Contracts:
BTO Sept 10th '21 132P
BTO Oct 15th '21 130P
- Rejection at 9EMA --> Short Term Downtrend confirmation
- Short Term EMA are bearishly crossing down to the 50 EMA
- Bollinger bands expanding signaling potential continued drop
- Increased volume on downward trend
- RSI below 50 (30), can continue down to 15s
Suggested Contracts:
BTO Sept 10th '21 132P
BTO Oct 15th '21 130P
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