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Raytheon (RTX) - Pull back or breakout?Here at YouCanTrade, we have been keeping watchful eye on defensive stock Raytheon NYSE:RTX , which has been trading below its 8 day EMA over the past 2 weeks of trading. The last two days of positive market activity has helped Raytheon pullback to its 21-day moving average, which could be a signal for taking a position in the direction of the downward trend. However, the option volume tells a slightly different story. The current call volume for RTX is 14,500 calls, largely outweighing the 5000 puts traded today. That is nearly 3 times as much volume on RTX calls than puts. So, I am going to watch this trade idea and put it to the test. As of 12 pm ET on May 19th, the RTX 59 strike puts expiring June 19th, 2020 are trading at a mid-price of $2.50. I am simply going to monitor the price change on this put option over the next few days to see who got it right. The bulls? or the bears?
NYSE:RTX
by UnknownUnicorn6775423
Bearish Outlook With Next Bounce Near $274-278Very simple chart. Things are going wild right now in the market and playing daily options may result in you getting burned. The Fed has shown with their unlimited QE that they are willing to do what's necessary to prop up our markets. That said, looking at the extremely low volume the past week, you can see everytime there is an influx in volume, the ticket begins trending down. I stated in a previous post how the resistance at $294 was going to be the turnaround point, although I will admit I didn't suspect the second double top to occur. That said, if you played had I mentioned with some long-dated Puts, you'd be swimming in cash right now. This move down is a clear indication the .68 Fib level held as expected and the market is pulling back now. This will continue to happen until we reach the next support zone which is looking like won't come until we reach the .5 Fib retracement level. I will need to spend the day watching price movement to see if a buying opportunity will be present, but that will be the next buy-zone to watch for. If this leg down is a violent one, it's very much a possibility we dive through this zone with enormous volume. For now, shorting to this area should be a relatively safe play to scalp some profit. Hope this chart gets more exposure than my last!
AMEX:SPYShort
by larsontw16
1
SPX SPY Confirmed Entering Wave Three Down (Edited Repost)Wanted to add my wave count for the rally we saw from 3/23 lows. We have formed a large ABC zigzag down from the ATH's in Feb, down to the 3/23 lows, then up to the 297 level (A and B). We are now entering wave C down, which can be broken up into subwaves. Inside of the large ABC zigzag's wave C, this wave three should take us to 258 levels according to the length of wave one from out recent high at 297 to the 279 range. There may be some support speedbumps along the way, 285, 279, 272, but 258 is the target according to basic elliot wave analysis and it has been extremely accurate lately. Entered shorts during wave two up, and finalized my positions at 289.5. We deviated from the waveform last night, so we could see a near straight down drop here today as correction. Good luck all!!!
OANDA:SPX500USD
by yosip1115
2
AMD PUT IdeaMy idea: so based on several factors and signals I looked into (not shown), I simplified into what I see happening. I know there is no strict correlation with AMD and SPX, however, it can be noted that as SPX grows, investors seem to be more "open" to drift away from value stocks into growth stocks to acquire quicker and higher profit. Every since the like of Amazon, Apple, Netflix etc, it can very easily be shown that the society of investors are more open to risk in this pre-technological era as we move closer and closer to a more dominant technological era. That being said, based on this chart, my idea is both the SPX and AMD (along with MANY others) will have a significant drop coming in the near future, as investors come to terms that the Feds intervention wont be enough to overcome the "iceberg" of problems that are arising. Each on their own does not seem to be significant with the fed intervention, but once you realize the relation that they will have against each other, each "problem" becomes intertwined in the other, from the "iceberg beneath the water" (what many can or do not want to see right now). With every rally there will be numerous day and swing traders trying to jump on the band wagon of each of these rallies to catch a quick profit. That's why I believe we are seeing such volatilty intraday within the markets. These rallies seem prominently based on emotions and rumors, which day and swing traders are infamously known to be attracted to. please like and share if you enjoyed this idea/opinion...feel free to like if you disagree as well :p , look forward to a discussion.
NASDAQ:AMDShort
by russkishurik
4
SPY Trade IdeaPossible rising wedge forming, a continuation pattern in a down trend or reversal in an up. Today felt "toppy" IMO, long weekend ahead, lets see what Monday brings... If wedge is validated this oughta make some put holders happy, but one more impulse up before more down... unless JPOW printer go brrrrr. Looking at ~$264 for local low and ~$293 for top. Added a few potential outcomes based on major support/resistance horizontals. The low of $156 (although hard to imagine it going that low) is the 2007 top. Cheers!
AMEX:SPY
by crypto_bugga
4
INTCTook an intraday short trade today when INTC entered (and overshot a bit) a first primary supply level I was targeting. Watched price action and was able to get a good fill on some puts for a nice gain today. From here I think we continue down to demand level for "b" and then reverse upward towards "c." With the craziness of this market, will watch the up move within "c" as there is potential the "c" wave could become an impulse wave. I don't think this will be the case as I still think the market needs to revisit some downside.
NASDAQ:INTC
by PT_Marche
NCLH - Fibonacci retracement shows first level of resistanceNYSE:NCLH Norwegian Cruise Lines (NCLH) recently ran into resistance as sellers prevented the stock from going past the .236 fibonacci retracement level earlier this week. Furthermore, recent options activity shows bearish sentiment with NCLH put/call volume ratios of 2.07 This means for every 1 call that trades, there are 2 puts are being traded. The Put/call open interest ratio is a little more narrow at 1.20. (Ratios were taken at the time of when this article was written and are subject to change). With the prospects of receiving a bailout is not looking good for the cruise line industry, there are mixed signals from the White House that leave many investors wondering whether to buy the stock now, or wait for another drop in the stock. Many cruise lines have suspended all operations for 30 to 60 days. So we will be monitoring the impact that has on the stock. The White House is expected to pass the massive CARES act, which may provide many U.S. companies the eligibility to receive loans or loan guarantees from the Federal Government. The major cruise lines are not incorporated in the United States, which the President knows and mentioned last night that he would like to see them come to the United States... and that he wants to assist the cruise lines. <- You can see now why it's a toss up as to whether or not the cruise lines will receive financial aid from Federal Government. Based on all the public information available, where do you think NCLH is heading? Up or Down?
NYSE:NCLH
by UnknownUnicorn6775423
A most interesting chart - rising on defense or return to 100?Walmart is supposed to be a defensive stock to buy when the market drops, but the charts show that price may head lower. Reasons for weekly 115 puts (higher risk) or swing trade 110 puts (lower risk): > In candle chart, green rectangle, you see a very bullish pattern between 2/27-3/2, and also a bullish engulfing candle on 3/6. However the volume directional moving index is low, suggesting this could be a rubberband effect that will not last. > Chart shows daily resistance line, dotted red > Between 2/21-2/25 (3 days), stochastic %K dropped from over 80 to under 20. The ensuing drop and quick rebound might give way to more downside --> look for RSI on daily to head back below 50. > Simple moving averages are in descending order: 10<20<50<100. one caution, 20sma is flat. > On weekly chart - 10sma is below 20sma and stochastic %D is below RSI. Price is testing 20sma. You can watch 30m timeframe for more signals to open puts, such as RSI moving lower and 10sma crossing below 20sma. On daily watch for the same, and for resistance line to hold.
NYSE:WMTShort
by OptionsRising
Trade near resistance - PUTS - Leave trendlines on your charts> I drew this red line in the middle of February, and it sill proves useful one month later. I would have liked TSLA to move up to 670 this morning (line on my chart) but I am not sure it will reach that high. > Watch 30min chart - RSI will turn down from 50 line if selling increases. Also monthly chart shows stock may head lower to 10sma. > Suggestions are weekly 580 or 600 puts, or 3/20 expiry 500 or 550 puts. Depends on how much capital you want in this trade; and keep a small position (even one is alright for a small account).
NASDAQ:TSLAShort
by OptionsRising