META & COST are overbought

7 בפבר׳

META & COST are overbought. With a RSI by 80 and trading above it's outer ATR band of 3x standard deviations. Once momentum fizzles out, gravity will bring META & COST back down to SMA20. So here's a straightforward trading idea.

META levels:
ATR 23
SMA 20 = 653
SMA50 = 623
SMA100 = 598
SMA200 = 545

COST levels:
ATR 20
SMA 20 = 965
SMA50 = 963
SMA100 = 932
SMA200 = 882

META short trade idea:
short 715
stop 725
profit 655

COST short trade idea:
short 1060
stop 1070
profit 965

META options data:
2/21 expiry
Put Volume Total 20,489
Call Volume Total 25,697
Put/Call Volume Ratio 0.80
Put Open Interest Total 105,207
Call Open Interest Total 131,858
Put/Call Open Interest Ratio 0.80

3/21 expiry
Put Volume Total 8,533
Call Volume Total 19,062
Put/Call Volume Ratio 0.45
Put Open Interest Total 101,527
Call Open Interest Total 110,511
Put/Call Open Interest Ratio 0.92

4/17 expiry
Put Volume Total 4,053
Call Volume Total 5,625
Put/Call Volume Ratio 0.72
Put Open Interest Total 32,737
Call Open Interest Total 53,495
Put/Call Open Interest Ratio 0.61

COST options data:
2/21 expiry
Put Volume Total 4,458
Call Volume Total 5,217
Put/Call Volume Ratio 0.85
Put Open Interest Total 11,521
Call Open Interest Total 12,621
Put/Call Open Interest Ratio 0.91

3/21 expiry
Put Volume Total 3,210
Call Volume Total 3,064
Put/Call Volume Ratio 1.05
Put Open Interest Total 25,964
Call Open Interest Total 22,294
Put/Call Open Interest Ratio 1.16

4/17 expiry
Put Volume Total 592
Call Volume Total 1,388
Put/Call Volume Ratio 0.43
Put Open Interest Total 10,602
Call Open Interest Total 8,988
Put/Call Open Interest Ratio 1.18

7 בפבר׳

הערה

META short entry 722

7 בפבר׳

הערה

COST short entry 1055