Back to setups! I’ve been off blogging about motivation, loneliness affecting your investment returns, and technical analysis symposiums. How about what I am buying? Okay I’ll tell you what I have been buying…
WHAT: Calls in $LN at the 40th strike, May expiry.
Where: Right Here
Why: Glad you asked. Take a look at this chart:
LN is coming back into the area in which is broke out of a symmetrical triangle consolidation range on high volume. That leads me to believe that buyers will defend the area. We also see a bullish divergence in relative strength as shown by a pattern of lower lows in price, and higher lows in the 14 day RSI.
I am doing a lot of scanning and chart surfing as option expiry has passed, leaving my account clean and ready for fresh positions.
I will be updating you all on any new finds shortly.
Happy Monday!
OC