This Bullish Healthcare Trade Targets a 75% Return in 10 Weeks
It’s my “Option Trade of the Day”.
Read MoreAuthor: Rick Pendergraft, Trades Of The Day
Trade This Stocks Drop for 75% Returns by mid-November
The last three instances where the stock was in overbought territory and made a bearish crossover (like this past Friday), the stock has dropped significantly in the following weeks.
Read MoreTrade This Stock’s Drop for a 75% Return in Seven Weeks
In two previous occasions this year the RSI and the stochastics were in overbought territory, like now. In both instances the stock dropped.
Read MoreTrade This Stock’s Drop for a 75% Return by mid-November
It looks like a possible head and shoulders pattern is forming. For the pattern to be confirmed, the stock will have to drop to the $82 area.
Read MoreTrade This Stock’s Drop for a 75% Return in Seven Weeks
We could be looking at a double-top formation here. If the stock moves below the 50-day moving average we could see the selling accelerate.
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