I don't own stock anymore, I, unfortunately, sold once it hit its fair value estimate of $57. If I owned stock I would either sell it or use some of it to sell calls against to take advantage of the inflated options premiums by collecting that weekly as it goes down.
As you can see the separation between the moving averages and the stock price has gotten into nose-bleed territories, the RSI looks grossly overbought for an extended period of time. This party has to come to an end. Not saying this will crash like the overcooked QS did but I would say if you don't have any exposure an in-the-money put option would be nice. ITM put options will have strikes above the current stock price and they have the trade-off of being more expensive but having a higher probability of profit without depending on a severe decline.
Looks to be overbought to an alarming level, look out below.
Transaction en cours
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On the weekly chart, using @LazyBear 's Squeeze Momentum Indicator, it is apparent that the stock is reaching a tipping point.
RSI through the roof, squeeze indicator steep bright green bars signaling the short is on, they will turn dark green as they descend down.
I enjoy using this indicator because it incorporates John Carter's TTM Squeeze in a very aesthetically pleasing format.
Transaction en cours
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I just doubled down. This thing is more overcooked than that burnt turkey that one year at thanksgiving.
Nosebleed levels on the 5m filled with bearish signs
Commentaire
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Double Top formed! Look out below!
Transaction en cours
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Just added more put spreads today, popped at close to 100% gains but couldn't close any contracts because of pattern day trading protection. Oh well, she's got further down to go. It's only just begun. Drew this yesterday, all is looking good