MSTR dropped from the resistence. It’s going lower!
MSTR
Category Archives: Options
RHAT
RHAT has filled its gap. The gap is the big resistence for it to move through it. I expect that it will come down when the buyers would start selling at break even point after they were trapped by the big gap down! I will long some puts starting from here. The target is 20-21 and stop is 23.5.
GSF
GSF reached the upper channel and was psuhed back from the resistence. Its’ forming a descending triangle, very bearish.
LOW and MSFT
As expected in the last entry, LOW clsoed at 54.01. The intraday low was 53.68. However, the volumne was low. I closed my Jul 55 Put position at 2.00 opened a few days ago.
MSFT has been moving up a little bit in spite of declining overall market. If it breaks out from 27.5, it will signal a new attempt of bullish trend since it hit the bottom in March.
LOW
LOW broke out from the downtrend line at 54 last week, but it lost its momentum right at the resistence at 56, which was the previous attempt to break out. I was biased to short at 54 in the last comment on LOW. It would be stopped out at 54.5. It looks like that it is going to retest 54 level before it can go higher. Now, 54 has become the support. The major support is still at 52. I opened a position on LOW Jul 55 Put bought at 1.60. I plan to close it once it hits 54.