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Wedgebreakout

BA Weekly Options PlayDescription BA gapped out of the pattern, a strong signal, and made a nice bullish candle on strong volume. We'll be looking for this move to continue. Related idea linked, almost entered on friday, but didn't quite cut it. Using A call debit spread, because profits are always limited by time. Call Debit Spread Levels on Chart SL is a daily close back in the wedge. *Stops based off underlying stock price, not mark to market loss The Trade BUY 11/19 235C SELL 11/19 255C R/R & Breakevens vary on fill. The long call is placed ATM for higher chance of profit, The short call is placed at a reasonable expected level of price within the expiration time. The front-week options play is to capitalize on a swift movement following the break. Manage Risk Only invest what you are willing to lose
NYSE:BALong
by BarnardR
BA Breakout and My Trading PlanBoeing is looking to breakout the downtrend here. It has been doing this pattern and breakouts ever since the covid crash and we have another instance here. BA has consistently been creating these downward wedge patterns and breaking out. With the increase in vaccinations and covid issues starting to decline, and businesses and travel opening back up, this could be the catalyst that BA needs to start going back up. The USA also are now allowing vaccinated foreigners into the country which is huge for tourism. I will be playing the gap fill at around 230$ - 235$, which would be my TARGET #1 There is also GAP #2 at around 245$ which could be the second target if it breaks the 230$ and the 240$ BEWARE: we did create a gap below, and is very possible that we fill that gap below before we can rip higher OPTIONS: I would take a month out, if more for these contracts. The Dec 3rd have decent open interests on the 225C and the 230C DEC 17th look the best however with over 10k Open interest in many different contracts. GOOD LUCK!
NYSE:BALong
by GringoRiley
PAR: BREAK OUT WATCHPAR: NEWS: PAR Government Systems Corporation , a wholly-owned subsidiary of PAR Technology Corporation (NYSE: PAR), today announced that it has been awarded a $490,400,000 ceiling, single award, indefinite-delivery/indefinite-quantity contract with cost-plus-fixed-fee completion and firm-fixed-price type orders for Counter-small Unmanned Aircraft System software, hardware, and technical documentation. This is the largest single contract award in PAR’s history. TECHNICALS: The price has been in a range for a few months, forming a kind of giant wedge (if you consider the lower grey line) or descending triangle (if you consider the blue line at 61). We have a strong support at 61. I'm looking for a break above the 1st resistance (grey line) and will most probably enter a long swing position once we break out. Let's see! All the targets/levels are on the chart (blue lines). Trade safe!
NYSE:PARLong
by Elpidaldo
MANAUSD Descending WedgeA descending trend line since the ATH yesterday is visible on the hourly chart with multiple spikes occurring due to pump and dumps and/or covering of short positions (though I have not done enough research on short interest on MANA - likely bag holders are exiting positions with each new spike). $2.557 seems to be a crucial price of supply meets demand since October 30. Combine this price with the aforementioned descending trend line we see a descending wedge forming. I anticipate a breakout from this pattern in the next few hours. A breakout down might imply further sell off to $2.1533, then further to $1.69. This collapse may be interrupted by the larger, bullish trend (which, from my interpretation, began on October 28). On the other hand, a breakout up may be met with supply/resistance at $3.43, from where a parallel channel may form (with $2.557 being support/demand zone) until the next large influx or efflux of volume. A breakout above $3.43 may imply further price movement toward $3.887, then potentially a retest of the ATH ($4.99). The price targets I provide are my own anecdotal opinions and I observe them making room for error. Regardless, volume is dying. The hype is waning. MANA volatility may wane similarly to other meme assets such as DOGE and GME. The purpose of this post is so future me learns from what I theoretically predict and what actually occurs.
COINBASE:MANAUSD
by SKIE_Watching
SHIBA pressure building into wedgeSHIBA INU, relatively new coin and "meme coin" has potential to break out of this wedge and range it has been stuck in for some time. With BTC and ETH starting to run, I think the altcoins and bigger named small cap coins will begin to run as well, from FOMO, meme potential, and just more and more people entering the crypto space. I will be entering with a small position at this level, waiting for the break of the trendline and the 618 fib level. Targets: 1) 0.000035, the previous high -> around 25% 2) the 1.272 fib around 0.000039 -> around 40% 3) 1.618 fib at 0.000044 -> around 55-60%
FTX:SHIBUSDLong
by GringoRiley
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