Bullish continuation expected for 6 stocks, oil, gold & indexes
BABA, NVDA, NFLX, FB, HD, BA
These 6 stocks are turning around and should continue upwards on the 30 min chart. The 20 period McGinley Dynamic Index is above the 50 SMA and heading towards the 100 EMA. These charts assume you are using data from premarket and after hours trading.
BABA call strike of $165 based on Friday's opening price
NVDA call strike of $145 based on Friday's opening price
NFLX call strike of $340 based on Friday's opening price but could go up to 342.50. Going to $345 is kinda pushing things.
FB call strike of $165 based on Friday's opening price
HD call strike of $183 based on Friday's opening price but that's a little too close given all the recent consolidation, probably would go one lower
BA call strike of $403 based on Friday's opening price but honestly feel it would be safer at $400
Crude Oil
Crude prices seem to be stabilizing and look good to continue it's upwards trajectory on the 30 min chart
GOLD
While GLD is looking bullish momentum might be slowing down here so a put credit spread is probably best at least 30 days out.
INDEXES
The S&P 500, Nasdaq and the Russell 2000 all are recovering from last weeks drama but be aware that is tentative. While the 30 minute charts are bullish I would place more faith on the Russell continuing higher since it's less affected by the US-China trade drama.
IMPORTANT - Equity options trading involves considerable risk and the potential for the loss of your entire capital risked if not managed properly. By following this alert you acknowledge that any trades you choose put on are of your own decision. Past performance is not indicative of future results.
NOTES ON ALERTS
* We may or may not have a position in this ticker at the time of the alert. We cannot always post an alert in a timely fashion.
** All option positions we take are typically held less than 2 weeks due to liquidity on the ticker's options but could extend to 30-45 days if selling premium were deemed in our opinion to be the better trade.
*** All alerts based on our custom tailored settings for McGinley Dynamic Indicator (McGD), a 100 EMA & 50 SMA on a 30 minute chart designed to match our primary trading platform indicator settings.
These 6 stocks are turning around and should continue upwards on the 30 min chart. The 20 period McGinley Dynamic Index is above the 50 SMA and heading towards the 100 EMA. These charts assume you are using data from premarket and after hours trading.
BABA call strike of $165 based on Friday's opening price
NVDA call strike of $145 based on Friday's opening price
NFLX call strike of $340 based on Friday's opening price but could go up to 342.50. Going to $345 is kinda pushing things.
FB call strike of $165 based on Friday's opening price
HD call strike of $183 based on Friday's opening price but that's a little too close given all the recent consolidation, probably would go one lower
BA call strike of $403 based on Friday's opening price but honestly feel it would be safer at $400
Crude Oil
Crude prices seem to be stabilizing and look good to continue it's upwards trajectory on the 30 min chart
GOLD
While GLD is looking bullish momentum might be slowing down here so a put credit spread is probably best at least 30 days out.
INDEXES
The S&P 500, Nasdaq and the Russell 2000 all are recovering from last weeks drama but be aware that is tentative. While the 30 minute charts are bullish I would place more faith on the Russell continuing higher since it's less affected by the US-China trade drama.
IMPORTANT - Equity options trading involves considerable risk and the potential for the loss of your entire capital risked if not managed properly. By following this alert you acknowledge that any trades you choose put on are of your own decision. Past performance is not indicative of future results.
NOTES ON ALERTS
* We may or may not have a position in this ticker at the time of the alert. We cannot always post an alert in a timely fashion.
** All option positions we take are typically held less than 2 weeks due to liquidity on the ticker's options but could extend to 30-45 days if selling premium were deemed in our opinion to be the better trade.
*** All alerts based on our custom tailored settings for McGinley Dynamic Indicator (McGD), a 100 EMA & 50 SMA on a 30 minute chart designed to match our primary trading platform indicator settings.