Playing around with some newly discovered indicators & have been learning ways to strategize from these indications.
I am also using indicators I have plenty of experience with.
Let me break down each indicator & then I will discuss my personal strategy for this stock.
Indicators:
I. RSI which is showing price to be underbought
II. Divergence+ shows a green shadow below the candles indicating bullish divergence
III. Knoxville divergence trend line is a divergence indicator that is quicker to spot when the next breakout will be
IV. Visible Range shows that the prime price that the highest trading volume occurs is at 70.97
Prediction:
Friday July 9th price will continue to fall based on bullish divergence not quite being strong enough. Then a new low will be tested and fall deeper into the low trading price range. As price falls below the desirable ( highly traded ) price range, bulls will have control of the price the next trading session and we could enter a bull run lasting up to 2 weeks into the desirable range.
Strategy:
Since the most common traded price is roughly $70 and we are due for a bull run for the week of the 12th, I am going to pick a price between $66 and $70. ( Most likely going to be $68 ) I am going to purchase a $68 Call that expires 7/23 and sell it during the upward price wave during the previous week to take a 20-50% profit.
Feedback:
I would love to hear your feedback/thoughts on my predictions & strategy.
Follow to see this come into play ( or fail ) and like if you are a WDC bull.
I am also using indicators I have plenty of experience with.
Let me break down each indicator & then I will discuss my personal strategy for this stock.
Indicators:
I. RSI which is showing price to be underbought
II. Divergence+ shows a green shadow below the candles indicating bullish divergence
III. Knoxville divergence trend line is a divergence indicator that is quicker to spot when the next breakout will be
IV. Visible Range shows that the prime price that the highest trading volume occurs is at 70.97
Prediction:
Friday July 9th price will continue to fall based on bullish divergence not quite being strong enough. Then a new low will be tested and fall deeper into the low trading price range. As price falls below the desirable ( highly traded ) price range, bulls will have control of the price the next trading session and we could enter a bull run lasting up to 2 weeks into the desirable range.
Strategy:
Since the most common traded price is roughly $70 and we are due for a bull run for the week of the 12th, I am going to pick a price between $66 and $70. ( Most likely going to be $68 ) I am going to purchase a $68 Call that expires 7/23 and sell it during the upward price wave during the previous week to take a 20-50% profit.
Feedback:
I would love to hear your feedback/thoughts on my predictions & strategy.
Follow to see this come into play ( or fail ) and like if you are a WDC bull.
