Short then go LONG? $CRUS Welcome, this is my first trade idea.
CAN THIS PLAY PRINT? WHO KNOWS!
NASDAQ:CRUS is a very seasonal company.
Earnings is coming up and I can see this stock dropping and testing the $90 support level before taking off to $115+ during the up season.
High risk, high reward trade.
Idea is to play the down trend until $90, then also play the upswing as the stock will be oversold.
On the weekly chart we see CRUS RSI volatility at 39, weakness being detected, but it still has some ways to go.
The stock is at a key level. And seems to be trending down.
Looking for entries to start building a position.
Entry 1: $97 and under (10-20%)
Entry 2: $95 and under (25-30%)
Entry 3: $92 and under (fill rest of position)
Looking for LEAP Call options at the support is another strategy to double down on the fact it's oversold.
