ZNGA looks like its getting ready to make a move
$9.77 support + 200MA support there as well which should be a strong area for it to hold.
Earnings coming up on August 4th may see it start to run-up in anticipation to earnings.
Personally looking at August 20th $11 calls for 0.39 since it covers earnings and has time on it. ZNGA is a slow mover so give it time. Will look to enter as close to that $9.77 support as possible and will scale into this trade if it continues to go as planned.
THIS IS NOT FINANCIAL ADVISE AND ONLY SHARING MY THOUGHTS AND IDEA OF HOW I WILL BE TRADING THIS NAME.
$9.77 support + 200MA support there as well which should be a strong area for it to hold.
Earnings coming up on August 4th may see it start to run-up in anticipation to earnings.
Personally looking at August 20th $11 calls for 0.39 since it covers earnings and has time on it. ZNGA is a slow mover so give it time. Will look to enter as close to that $9.77 support as possible and will scale into this trade if it continues to go as planned.
THIS IS NOT FINANCIAL ADVISE AND ONLY SHARING MY THOUGHTS AND IDEA OF HOW I WILL BE TRADING THIS NAME.
Comment:
Still consolidating and preparing to move. I do still believe in this trade as it hasn't broke support.
Comment:
ZNGA just about to breakout. Like this trade a lot right now and if market continues to be strong I think we see this one run. The specific option called in the post is sitting at 0.55 right now so be sure to scale out profits and move stop losses. Don't let your green trade turn red. Another successful trade posted.