Here we have a personal favorite of mine in SHOP. SHOP has been on a huge bull run since mid May and has showed signs of being overbought but there are signs of strength at these levels and it has led me to believe there may be gas left in the tank. A move as high as 1600 is possible on a break and hold of 1523. Upside to at least 1510 seems likely this coming week with the MACD heading towards a bullish convergence and the 5 day MA looking to cross over the 10 day MA.
Would reccomend sticking to day trades at these levels, also be wary of high IV
TRADE IDEAS:
CALLS:
Entry: Break and hold over 1500
Contract: SHOP 7/16 1540c
PT: 1510, 1517, 1523, 1534, 1550
Lotto PT: 1586, 1600, 1610
Stop Loss: Break and hold under 1493
Not financial advice
Would reccomend sticking to day trades at these levels, also be wary of high IV
TRADE IDEAS:
CALLS:
Entry: Break and hold over 1500
Contract: SHOP 7/16 1540c
PT: 1510, 1517, 1523, 1534, 1550
Lotto PT: 1586, 1600, 1610
Stop Loss: Break and hold under 1493
Not financial advice