TECK is setting up for a nice long here as it trends up into monthly support trend line. Looking for more consolidation before breakout - colored broken arrows represent two possible paths - but looking for breakout nonetheless. TECK should make for a nice mid-term swing trade here, 77delta Sept18 $10c provides a nice risk reward to current share price if we get breakout over next couple weeks.
Interestingly, daily TTM squeeze is releasing. If TECK doesn't move over the next two weeks and break out above $11.75 then the daily release up may be a bearish divergence. Let's see how this plays out but I am looking for the breakout.
Interestingly, daily TTM squeeze is releasing. If TECK doesn't move over the next two weeks and break out above $11.75 then the daily release up may be a bearish divergence. Let's see how this plays out but I am looking for the breakout.
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How it actually played out:
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