Chart is worth a 1,000 words: $366 line in the sand served as support and coincided with the bottom of an uptrend channel on my chart. February 420 and 430 calls were bought in late January, giving us confidence that the recent price dip was a support test that got bought. Also note that the daily MACD appears ready to turn up and the money squeeze is building, waiting for a release.
Wait for price to confirm above the 50dma around 381 for cautious investors. Traders should have got long this morning and should wait for a sell signal to bank profits.
Wait for price to confirm above the 50dma around 381 for cautious investors. Traders should have got long this morning and should wait for a sell signal to bank profits.