CLOV has rejected and collapsed from the 1.618 fib and so my initial entry is early, but thats ok it was oversold on the weekly for the first time ever so I'll hold that position.
Now CLOV looks to be heading for the 2.618 before a bounce so price could see $2 with some overshoot in a selling climax, at which point it may be sub 20 on the weekly RSI which I think is very deep value; so I'll be selling leap puts in that area to take advantage of high IV should it get there instead of buying the underlying stock.
It could pull back of course and indexes have been bearish this week but good chance it hits the next fib I think.
For anyone that actually follows my output, notice that CLOV has a strong volume POC unlike TNXP NNDM NAKD BIOL etc that are nothing but a descent.
And there is still risk that CLOV could do the same, but that strong POC should attract price if you follow auction market theory.
Not advice.
Now CLOV looks to be heading for the 2.618 before a bounce so price could see $2 with some overshoot in a selling climax, at which point it may be sub 20 on the weekly RSI which I think is very deep value; so I'll be selling leap puts in that area to take advantage of high IV should it get there instead of buying the underlying stock.
It could pull back of course and indexes have been bearish this week but good chance it hits the next fib I think.
For anyone that actually follows my output, notice that CLOV has a strong volume POC unlike TNXP NNDM NAKD BIOL etc that are nothing but a descent.
And there is still risk that CLOV could do the same, but that strong POC should attract price if you follow auction market theory.
Not advice.
Comment:
CLOV did overshoot passed 2.618 and now showing signs of reversal. Im going to wait to see bit more for my second entry.
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