Trade of the Week
Bull Put Spreads in Ride Sharing Giant Looking to Rebound
Uber (UBER) has seen a nice rebound off key support the past few weeks near 63-65 and is now back above its 55-day MA and YTD VWAP which comes in near 70. One of my favorite ways to sell puts is on a leader like UBER in a strong long-term trend that regains its 55-day...
Short Term Breakout Setup for Tech Giant at Highs
Google (GOOGL) shares are showing great relative strength since its blowout earnings gap higher in late April and has coiled up now in a high tight bull flag near the 175 montly POC of volume. Friday saw a bullish engulfing reversal candle close strong at highs and is...
ETF Sector Corner: Biotech Builds Energy into Strong Seasonal Months
iShares Biotechnology ETF (IBB) – This ETF offers exposure to the biotech sub-sector of the health care industry, serving up access to a group of stocks that can thrive on technological breakthroughs and increased investment in medical processes. IBB is primarily...
Bull Put Spreads in MedTech Name Oversold into VPOC Support
Dexcom (DXCM) has been slipping lower the past few weeks since breaking under its YTD VWAP near 127 and now back to longer term support of the 2023 volume point of control (VPOC) near 115. The stock has a good level to stabilize and bounce from here, which is all that...
Semiconductor Name with Bull Weekly Options Setup
Advanced Micro Devices (AMD) shares of the Semi name are building energy to get back above its YTD VWAP currently at 170.75 and a close above likely can rally through the monthly value area above 173 with a target of 180 where an untested VPOC of volume sits from back...
ETF Sector Corner: Fintech Group Setting up Falling Wedge into Bullish Seasonality
ARK Fintech Innovation ETF (ARKF) – This ETF is an actively-managed fund from the team at ARK Invest that tries to pick the companies best positioned to profit from advancements in energy, automation, manufacturing, materials and transportation. ARKF’s management fee...
Bull Put Spreads in Oversold Ecommerce Growth Name at Support
Shopify (SHOP) has been one of the bigger dogs of the year but now the past few weeks retested its 2023 yearly POC of key volume support at 57 and rebounding so far back towards 60 with potential to base here and work back higher to the 65-70 zone this summer. Options...
Technology Leader Setting Up Quick Breakout to Highs
Apple (AAPL) shares have quietly stayed very strong since its blowout earnings report gap and go move that has resolved in a classic earnings drift move higher and now the past two weeks forming a bull flag near 190-192 ahead of its WWDC conference the week after this...
ETF Sector Corner: Microcap Group Set for New Highs into Midyear
iShares Micro-Cap ETF (IWC) – This ETF seeks to replicate a benchmark which offers exposure to the micro-cap sector of the U.S. equity market. The investment thesis behind micro caps is a very similar, but more aggressive approach than small caps. The companies held...
Bull Put Spreads in Oversold Pharma Leader Back at Key Support
AbbVie (ABBV) has been sluggish since peaking near 180 in March and now sliding back to its 200-day MA and long-term support at the 2023 yearly value area high at 156. The 55 week MA is just below here at 154 as well with a strong zone of volume support likely to see...