9999 trade ideas
stop teasing this company (3)this company was on a rocketship heading for the moon. Fast up and means fast down and when the stock hit its peak it beens a violent downturn. The stock already lost 42% of its value and now the question is, is this near the bottom or will there be alot more blood?
Timing = 1 ( the chart has been very weak when the market has been going sideways and therefore i think more blood is likely)
Volume = 0 ( the volume has been decreasing as the stock heads lower)
Group strength = 1 (internet & information index looks strong)
Entry = 0 ( the entry level is near the 200ma and also a strong round number 200. But the stock recently tried to bounce and failed )
Fractal = 1 (this pullback is 42% previously this stock has lost 46% of its value)
NTES may be easing higherSImilar to my OLED post, NTES found critical support early this session during market weakness. It's sitting right on key support as a convincing break here on a daily or weekly closing basis will send it to $300 or less.
Also, NTES saw significant Feb 9 Weekly Call buying yesterday with 1,000 lots going at each of the 320, 325, 330, and 340 levels.
I tend to stay at or near the money when entering Calls, especially weeklies. Not for everyone, but again, well defined risk levels right here where a "closing" break under 315 on the Daily chart negates this thesis. If that happens, consider switching to Puts with initial target at $300.
Above all, know your risk, know your levels, and trade with patience, dedication, and focus.