I think at the end of the day this is going to up with in the next two weeks from its current level. Some are calling for small caps to underperform. So I will either play an Iron Condor for a credit within this range or I feel like we can trade a bull put spread or a bear call spread above or below the floor and ceiling levels I have shown and be relatively safe....
Bullish Pennant, I believe this stock will go up from here at least in the next month if not sooner. Not only because of this pennant formation but also because fundamentally right now where we are in our economy and this COVID crisis. A lot more people will be inclined to call in to not expose themselves and have virtual visits. Another thing is it keeps our...
AMEX:SPY
Here is what my prediction is for these next couple of weeks.
It is possible that it could go lower to 210ish range. I think there is some good support there.
I also hope that it does not break those levels because there is no need to damage older peoples retirement portfolios any more. There could also be some big economic impacts if that does...
I entered a small position after realizing there was a long term pennant formation and a gap to fill.
Entry $56 - 100 shares and leveraged with $70 four option contracts with 6 months expiration.
Added to my positions at $70 break out 2X.
Will add 5% trailing stop loss at $80 to take half profits and sell half contracts.
Long Long Term hold I have a $100...
So my price action prediction was correct that it was going to touch the bottom of the channel again. Though it did not break. Now we are seeing the Three Sisters or Three Large Candle Sticks. It will hit the top channel probably. can add a tiny position and if it breaks the channel we will go up a little further.
Since the mega phone pattern is broken I think it will touch the lower channel to make six. I think it will hit Fib 0.00. Nothing is certain though. So if it doesn't break the channel then we could see one more bounce to make a 7th touch.
