Today the markets took a toll but caught a bounce by the end of market close. A few sectors did hold up well structure wise. Those sectors were XLV and XLC. With this in mind, a flow order came in today for MRNA. MRNA trades within the XLV sector (Healthcare) so automatically this caught my eye. This order is a $155 call expiring 6/7. With the healthcare holding up and this order is bullish on mrna it seems like we will long this ticker into 6/7.
Price Action & Zones: We are in a trending parallel right now (buyers getting in control). Within the parallel it seems we took out the buyers and the sellers and then price came back into the range. Expected range is $160.84 for the upside and $134.80 for the downside, liquidity will lay at these levels. Watering hole from $152.97 - $154.01.
Entry/Add/Target/Exit: Entry is on 50-60% discount or a gap up and hold for a while, maybe a chop and a C leg to follow. The add time is market close (if we enter market open). Target is when we are up 50-70% of our contracts value (hold a runner). Exit is if we lose upwards momentum and tank past 60% discount.
Nota
adding to my position after this 30 min candle is done. We never made a new low so its safe to assume we will bounce for abit
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