Today, we tagged the May 2020 COVID Lows for LUV.
Back in May 2020, Buffet sold much of his airline stocks. This added the final capitulation for airlines, marking the low for 2020. Today, we got a nice hammer candle and a bounce from that exact pricepoint.
Looking to get in with calls if we take out this hammer, with a stop below the COVID lows.
RSI is extremely oversold.
I understand this is a counter-trend trade but feels right for a bounce.
I will update the trade with exact option details if the trade triggers.
Back in May 2020, Buffet sold much of his airline stocks. This added the final capitulation for airlines, marking the low for 2020. Today, we got a nice hammer candle and a bounce from that exact pricepoint.
Looking to get in with calls if we take out this hammer, with a stop below the COVID lows.
RSI is extremely oversold.
I understand this is a counter-trend trade but feels right for a bounce.
I will update the trade with exact option details if the trade triggers.
Comment:
I closed my trade today at 3.75.
Locked in profits after a big move in the market. Will see how the market digests these big moves before getting back in.
Locked in profits after a big move in the market. Will see how the market digests these big moves before getting back in.
15 DEC 23
20 CALL
Limit Buy: 2.95