SLB Swing Trade - Grade A
Strategy Description
• Solid earnings + Reaction
• In a very strong sector (XLE)
• Huge daily level with not much resistance until higher up
Market Big Picture
• SPX favors the upside until we break below 3638.
• Energy plays tend to diverge from SPX, so this is a comfortable swing even if the market is dying and breaks below 3638.
Intraday Fundamentals
• SLB Earnings were rock solid and the stock was up 2.7% premarket + 8% on the day
Long Term Technicals
• SLB is approaching a massive daily level at 49.83 which if broken successfully with the earnings tailwind, can see 52.94, 59.25, 63.31
⚒️ Instrument ⚒️
SLB 12/26/22 - 50C @ 3.3
🎯Targets: 52.94, 59.25, 63.31
🩸Stop: Close below 46.69 on the daily
Strategy Description
• Solid earnings + Reaction
• In a very strong sector (XLE)
• Huge daily level with not much resistance until higher up
Market Big Picture
• SPX favors the upside until we break below 3638.
• Energy plays tend to diverge from SPX, so this is a comfortable swing even if the market is dying and breaks below 3638.
Intraday Fundamentals
• SLB Earnings were rock solid and the stock was up 2.7% premarket + 8% on the day
Long Term Technicals
• SLB is approaching a massive daily level at 49.83 which if broken successfully with the earnings tailwind, can see 52.94, 59.25, 63.31
⚒️ Instrument ⚒️
SLB 12/26/22 - 50C @ 3.3
🎯Targets: 52.94, 59.25, 63.31
🩸Stop: Close below 46.69 on the daily