OptionsRising

OptionsRising Updated 

A good stock for swing calls, or day trade. First stop is MSFT below 142, then below 140. If you want to preserve capital you could add a third stop below 141.

OptionsRising

This may be a great bullish buying signal, and supporting the SPY monthly chart (linked). A trade below 3/16 low negates bullish bias, while a reversal open or trade over candle body indicates more upside. Please learn more about the meaning and use of inverted hammer candles here: hitandruncandlesticks.com Also note that %K rose from 23 to 29 while price...

OptionsRising

On hourly chart I have circled a possible double bottom indication with divergence (RSI was higher in second drop while price was lower). Stochastic is over RSI, 10sma is over 20sma, and price has held 20sma support. Though these signals are in play for buying calls, the 20sma is still downward and daily chart shows there could be more downside. Today's...

OptionsRising Updated 

On the daily chart, RSI is still showing more downside possible. If candle closes as a doji, watch open on Tuesday to buy puts or calls. I bought a small position of weekly 140 puts Monday afternoon. In general, options are crazy expensive and with the after-hour swings in futures, I am only holding 1 or 2 positions overnight. Mostly I am doing day trades and...

OptionsRising Updated 

Focus on RSI, which is very revealing, and daily closing prices. See two green lines on chart. Also around 90-91 is monthly support. This stock could drop to 87-90 range, but a move up - even if temporary - is coming when stochastic and RSI start turning up. See hourly and monthly charts as well. Use less capital. Hold overnight for best gains. Use...

OptionsRising Updated 

Monthly 100-day SMA is at 95.38, yellow circle. On weekly chart you will see support area, green dashed line. Swing trade or day trade.

OptionsRising Updated 

I normally do not use hourly charts to trade, but I like them to give more detail on daily charts. You can see two instances of bullish divergence. Yellow lines show lower high in price while stochastic %K and RSI moved higher. Pink lines show lower low in price while %K moved higher. I have opened a small position of 3/20 expiry 110 call. Ideally I would like...

OptionsRising

This is a follow up to my previous FB post. Stocks are in a tug of war, stalling. Looking for RSI to turn lower, as it is hovering under 50. Not much selling pressure and volume is lower today. Generally, stocks have not broken Tuesday's lows. From what I see across multiple charts, stocks may open higher or lower tomorrow, probably depending on news. I will...

OptionsRising Updated 

Walmart is supposed to be a defensive stock to buy when the market drops, but the charts show that price may head lower. Reasons for weekly 115 puts (higher risk) or swing trade 110 puts (lower risk): > In candle chart, green rectangle, you see a very bullish pattern between 2/27-3/2, and also a bullish engulfing candle on 3/6. However the volume directional...

OptionsRising Updated 

If FB opens below yesterday's open (below yesterday's green candle body) that is very bearish. I added this white support line to a previously published chart, around 164, which is also 200 moving average support on weekly chart. If market selling continues today then FB could touch this price today or tomorrow.

OptionsRising Updated 

> I drew this red line in the middle of February, and it sill proves useful one month later. I would have liked TSLA to move up to 670 this morning (line on my chart) but I am not sure it will reach that high. > Watch 30min chart - RSI will turn down from 50 line if selling increases. Also monthly chart shows stock may head lower to 10sma. > Suggestions are...

OptionsRising

*** Please see notes on chart. This is an example similar to many other stocks. The monthly and weekly charts show more downside is possible, and stock has not yet touched 200sma on daily. *** Compare today's closing price with the 2/27 close, and check RSI and stochastic for bullish divergence. Look for RSI to cross above 50 on 30m chart and trendlines to turn...

OptionsRising Updated 

Chart shows weekly trendline support from 2016 drop and 2019 drop. Solid yellow line connects closing price, while dashed yellow line connects lows. Prices are about 207.50 and 205, respectively. You can easily set stop losses to scale out of position, otherwise this will be a nice trade if buyers step in and market bounces upward next week. Also on stochastic,...

OptionsRising

This chart should be a big part of your big picture! 1 - Look at the Oct-Dec 2018 selloff in the orange rectangle. Note how SPY closed below the 10sma in Oct, retested up in Nov, and dropped to the 20sma in Dec. This is a very common pattern you will find on price action. 2 - See the corresponding orange rectangle in RSI. RSI dipped below 50 and came back over...

OptionsRising

Back in June 2018, when RSI was extended, the stock dropped about $40. This earnings jump seems a bit excessive for a pizza company whose stock is cyclical - it generally rises during football season. Weekly chart also shows a price rise that is irregular compared to normal stock movement. I am looking for sellers to take profit over the next few weeks.

OptionsRising

This Microsoft chart is similar to many others out there. On the 60min chart, price has come back up to test the 20sma, and this first touch since the downturn began usually brings in more sellers. The RSI is testing the 50 line on many stocks, so watch for it to go over or fail and turn back down. On my charts I use a 7-day and 14-day RSI because in strong...

OptionsRising Updated 

This 30min chart follows the weekly chart I posted yesterday (linked). There is a gray horizontal resistance line and 2 red support lines. I waited until after 10am to open a trade for two reasons: 1) to see where first 30min candle closed, and 2) to allow IV to drop a bit so options become cheaper. I chose puts because today's opening was a complete reversal...

OptionsRising Updated 

Read notes on chart please. Also there is bullish divergence between 15min RSI, stochastic peaks and price. I bought 320 calls for a day trade. You can go further out in time for a swing trade. Risk is low if you buy while SPY is under 320. Suggested stops: price below 319, below 318.75, and below low of 317.53