SGH SMART Global Holdings Options Ahead of EarningsAnalyzing the options chain of SGH SMART Global Holdings prior to the earnings report this week,
I would consider purchasing the 30usd strike price Calls with
an expiration date of 2023-9-15,
for a premium of approximately $1.40.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
SHG
SHG - Skylight Health Group Inc.Daily chart. Short shelf life so far on this play. Looking for this to hold channel and break current downtrend (white line). MACD still needs a it of work but its starting to curl, RSI looks great. Holding and adding to this play in this area of support. Sell signal if lower channel support fails.
SHG, Cup-and-Handle (bullish) I found tihs pattern at tickeron website with the following data:
STATUS = Confirmed
CURRENT CONFIDENCE = 63%
TARGET (EXIT) PRICE = 24.85 USD
BREAKOUT (ENTRY) PRICE = 24.60 USD
DISTANCE TO TARGET PRICE = 1.00%
EMERGED ON = Oct 09, 10:00 AM (EDT)
CONFIRMED ON = Oct 09, 10:00 AM (EDT)
WITH CONFIDENCE LEVEL = 76%
Once the price breaks out from the top pattern boundary, day traders and swing traders should trade with an UP trend. Consider buying a security or a call option at the upward breakout price/entry point. To identify an exit, compute the target price for the Cup-and-Handle pattern by adding the pattern’s height (the difference between the highest high and the bottom of the cup) to the price at the right cup lip. The confirmation move is when the security moves past the breakout price above the right cup lip.
To limit potential loss when the price suddenly goes in the wrong direction, consider placing a stop order to sell at or below the breakout price.
The Cup-and-Handle (sometimes called Cup-and-Holder) pattern is formed when the price of a security initially declines and then rises to form a “U”like rounded shape (1, 2, 3, also known as the Cup). Once it forms the right lip, it is characterized by short, relatively straight price decline (from 3 to 4) forming the handle.
The declining handle potentially forms due to mounting selling pressure created when the security tests its high at the right cup lip. After the sellers give up, the security has the potential to break out to the upside.
