$BB Analysis & Predictions Based on Parabolic Squeeze Momentum
With BB now reaching a new high since the previous January squeeze, the level reached was approximately near the $20 Level, or the 61% Retracement level. It is now currently using the 50% retracement level of $17 as support for a potential next leg up. If parabolic movement continues in the "meme stocks" , you can look for your next targets of resistance levels near $20 (61% retracement) and then $24 (78% retracement).
The zones are as shown on the chart, shows how these fibonacci retracement levels play a significant role in determing support and resistance on 1D chart.
My position on this was strictly options, I purchased so called YOLO calls on Tuesday of this week
6/4 $16 Calls - 0.86 /c
as well as yesterday at the close purchased
6/11 $20 Calls - 3.30 / c
Sold the June 4's for 4.85 at the open today, cant complain about that gain and they expire soon, and I will hold these $20 calls for next week if the current support zone holds.
GLTA, follow for more
The zones are as shown on the chart, shows how these fibonacci retracement levels play a significant role in determing support and resistance on 1D chart.
My position on this was strictly options, I purchased so called YOLO calls on Tuesday of this week
6/4 $16 Calls - 0.86 /c
as well as yesterday at the close purchased
6/11 $20 Calls - 3.30 / c
Sold the June 4's for 4.85 at the open today, cant complain about that gain and they expire soon, and I will hold these $20 calls for next week if the current support zone holds.
GLTA, follow for more