ARM Long

13 Des

ARM currently priced at $148.00 ... with a target of 160 and an extended target of 164

ARM chart shows a breakout above the upper trend-line...
- 9-day EMA line crossed over the 50-day EMA line upwards = bullish sentiment
- MACD & RSI are both trending higher and away from their sell line and moving average respectively. = bullish sentiment
- the move to the upside will target the big green candle on November 7th which happened to be the last failed breakout or rejection attempt
- A capture of $150 price level and move or gap up to $150.65 is the resistance level that needs to be turned to a support level since it is the closing price of the previous rejected candle
- if 150.65 holds as a support level, the next price level ARM can trend to is 154.65 and then 157.69 -> 160 -> 161.82 -> 164
- Very high volume on call option contracts expiring tomorrow as well as next week.
- ARM 152.50 Call 12/13
- volume 6,056
- open interest 949 ... (OI to open around 3000 to show liquidity/continuation)
- ratio ~ 6:1
- ARM 155 Call 12/20
- volume 10,578
- open interest 5,126 ... (OI to open around 7,500 to show liquidity/continuation)
- ratio ~ 2:1
- ARM 160 Call 12/20
- volume 12,425
- open interest 7,416 ... (OI to open around 10,000 to show liquidity/continuation)
- ratio ~ 1.67:1

Not Financial Advice.