SBAC trade ideas
SBAC: further upside potential?I like the pattern that is busy unfoldiing.
A price action above 337.50 supports a bullish trend direction. Crossing below this level will negate the bullish stance.
Further trend support above 333.00.
Consolidation between 342.00 to 351.00. Crossing above 251.00 might target 364.50.
Crossing below 342.00 will be the first sign of weakness.
The MADC bullish crossover supports a bullish trend direction.
$SPY $XLRE $SBAC If You Like REIT's You'll Love This Breakout.As bonds continue to move higher and interest rates lower, $XLRE and $REITS in general have been showing strength. $SBAC Has been on my radar for awhile and the breakout has finally happened. I believe that a position over prior resistance offers a good risk/reward ratio here and I like the stock long to the 0.786 Fib extension which happens to be just about the peak to trough decline level from the resistance to the base. Good Luck.
SBAC 🌦Potential breakout? The drop from segment BC seems to be greater in magnitude than segment 0A. I'll wait for a fractal on the 5 min before seeking entry for calls. Some of you want me to start stating what the pattern is called so here's to that. The pattern on SBAC is called a Running flat Elliott correction wave. Running flats always have two trend lines pointing up. Once again no indicators. In my trading group we like to understand the behaviour of the market through finance, economics, fractals, Elliott wave theory and inter market analysis.
May the market forces be with you and see you on the moon!
SBAC Put Spread$3.99 Option Cost EXP October 18, this is a rather expensive trade I normally wouldn't pay this much for an option my general rule is $1.3-1.6 for a 3 week option per $5 width but I'll go for it since I bought it while it was into the money.
250/240 Put Spread Target is $7 profit at sale which is $300 profit at target
Max loss is $300 if it reverses.