Analyzing the options chain and the chart patterns of ADI Analog Devices prior to the earnings report this week,
I would consider purchasing the 195usd strike price Calls with
an expiration date of 2024-3-15,
for a premium of approximately $3.50.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Head N Shoulders- Wyckoff Distribution on top edge
Limit order on the previous support of the distribution area
Stop Loss on top of resistance
Take Profit on the other edge
I have changed up how to best display projected movement. In the case of ADI, 3 of my algorithms signaled a BUY on March 26, 2021. Equities nearly always obey the signal and move up, but sometimes it may continue to move down first.
I have placed two red boxes and two green boxes on the chart. The larger red box depicts all of the historical movement, from a...
$ADI is just above the buy point of $124.39
12 months Consensus Price Target: $123
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Please don't trade according to the ideas, rely on your own knowledge.
Thx
