SHOP rejecting off 94? If so, back to retest/establish 91

13 ביולי 2017

Looks like SHOP is rejecting off 94 resistance so if it closes <94, we may get that 91 retest earlier analysis indicated (which prompted me to close the Oct 90 calls for just small gain & miss the 94/95 test bec. i forgot to look at momentum indicators which i'm learning now...). If so, will be watching MACD, RSI & CCI closely for choosing entry for my first attempt at a weekly swing trade with this. Debating whether to start super small w/ just 100 shares & see how it goes since the 20 is still below the 50 avg. and it may drop further than I expect in which case I could add more - or whether to try to swing it buying call options, which are much riskier. Maybe I'll do both because i have a feeling the hard part for me will be selling shares next test of 94-95 level since I'm so long this company and will want to hold them.

Either way, ideally will try to catch bottom of 91 retest & grab somewhere along high 88s uptrend line if it looks like it will even dip that far & close call options when/if it retests 94-95 again...that way i'll only really risk the amount invested in call options since I'm long the stock & will just hold the shares (and sell puts & maybe calls) if it goes against expectation.