TQQQ - Leveraged QQQ rising after reversal LONG
Diupdate
On the highly reliable weekly chart, price was under the Ichimoku cloud since April 2022
putting in a couple of bear flags on the way down while first getting support two standard
deviations below the mean anchored VWAP and then one standard deviation showing
increasing strength finally crossing above the mean VWAP in May then with a retest and bounce
in late October while forming a bull flag. The breakout in the past month suggests another
leg up is underway with a potential of the same magnitude as the flagpole in the current
pattern. If accurate this could lead to a price of $68 by next July or 70% higher than
the present over 7 months. I will take a trade of 10 call options with a strike of $ 65.00 for
a July expiration. Each time the stock price rises by $5.00 I will close one of the options
yielding a tiered liquidation along the way to collect profit.
putting in a couple of bear flags on the way down while first getting support two standard
deviations below the mean anchored VWAP and then one standard deviation showing
increasing strength finally crossing above the mean VWAP in May then with a retest and bounce
in late October while forming a bull flag. The breakout in the past month suggests another
leg up is underway with a potential of the same magnitude as the flagpole in the current
pattern. If accurate this could lead to a price of $68 by next July or 70% higher than
the present over 7 months. I will take a trade of 10 call options with a strike of $ 65.00 for
a July expiration. Each time the stock price rises by $5.00 I will close one of the options
yielding a tiered liquidation along the way to collect profit.
Trade aktif
The weekly chart showed an inverse head and shoulder pattern from October 2022to March 2023 leading further support of the bottom and then reversal.
Trade aktif
Price up over 10% in the past 10 days on the breakout from the flag pattern Call options are up proportionately more in the same time period- will add if any pullback is seen- no partial close of position yet.Trade aktif
Fridays's trade of the day : 
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