CERN is the European Organization for Nuclear Research and they operate the largest particle physics laboratory in the world. While I loved physics in high school and college, I am still bitter I didn’t score well enough on that AP Physics exam for college credit. I should have paid more attention.
Anyway, I am interested in the risk reward profile of $CERN here and now. One of my main indicators is showing the stock to be moving into price levels where it may be prudent to take a long position. See the below chart, and what has happened to price each time the lower Optex Band was breached.
See that? Pair that with the following:
Price is testing a level where major buyer support gapped the stock higher last year. I think the bulls will defend this level in the coming days.
I have taken a position. You are welcome to follow along at your own risk.
H/T to MikeyWins! in our trading room at TradingAddicts.com for the idea.
FilledBuy to Open 5CERN MAY 18 2018 62.5 CallLimit1.40—-11:32:35 03/20/18
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