After hitting bottom at 101.09, it goes up to 61.8 fib lvl and rejects which is normal as the 61.8 fib lvl holds good.
It finds support at 38.2 fib lvl. 38.2 fib lvl also holds good and we can see that it goes above 61.8 fib lvl after rebounding from 38.2 fib lvl. Same 61.8 fib lvl which was resistance before.
After crossing 61.8, it's retesting support lvl at 130.83 which was resistance previously.
I will target the next lvl at 78.6 ($145.82) with the trade play below......
Feb 16 150c for 1.56 or
for lower cost, you can also play
Feb 16 160c for .60
Size appropriately as the overall market can bring the stock down still.
It finds support at 38.2 fib lvl. 38.2 fib lvl also holds good and we can see that it goes above 61.8 fib lvl after rebounding from 38.2 fib lvl. Same 61.8 fib lvl which was resistance before.
After crossing 61.8, it's retesting support lvl at 130.83 which was resistance previously.
I will target the next lvl at 78.6 ($145.82) with the trade play below......
Feb 16 150c for 1.56 or
for lower cost, you can also play
Feb 16 160c for .60
Size appropriately as the overall market can bring the stock down still.