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Chart of Day: Amgen (AMGN) Ready to Rocket, too

Aug 22, 2017

On Monday, we told you about the opportunity with Celgene (CELG), recommending the CELG October 2017 130 calls. The very next day, shares were up $2.86, handing you easy gains in no time.

But it’s not only pharmaceutical company you want to own.

After a gap from $180 a share, AMGN stock appears to have caught support at $168 with reversing momentum indicators. What I’d like to see is a potential test of $172.50, near-term. To trade this, buy to open the AMGN October 20, 2017 170 calls at market prices as well.


Chart of Day: Celgene (CELG) Oversold at Support

Aug 21, 2017

After a recent pullback, we’re seeing strong signs of support at $127.45.  If this holds, and we believe it will, we could see a potential bearish gap refill around $134, near-term.  A good way to trade this opportunity is with the CELG October 20, 2017 130 calls at market prices.  Open interest on CELG calls has been higher than normal in recent days.  Better yet, the stock is now trading at its lower Bollinger Band (2,20) with oversold reads on RSI, MACD and Williams' %R.  That leads us to believe we could see a near-term reversal higher with patience. 

Chart of Day: CRUS -- Another Oversold Opportunity

Aug 16, 2017

As we wait for TRUE and VNDA to pivot higher from oversold conditions, we’re also recommending a buy on Cirrus Logic (CRUS). After a brutal sell-off from $66 to $55.76, the stock appears to have caught support. Better yet, RSI, MACD and Williams’ %R are deep in oversold territory. What we’d like to see here is a potential bearish gap refill around $62, near-term.

There are two ways to trade the opportunity. One, we can buy the stock at current market prices, and, or we can buy to open the CRUS September 15, 2017 55 calls at market prices, as well. This one should do well for us.

Chart of Day: True Car Ridiculously Oversold

Aug 15, 2017

Even after posting solid second quarter results, TRUE gapped lower. Adjusted EPS was one penny on revenues of $81.8 million. Both topped estimates. However, it was forward guidance that knocked the stock down unfairly. While the company expects third quarter revenue of $85 million to $87 million – a solid year over year gain – it was just below expectations for $87.68 million.  In short, there was no real reason for this gap lower. It’s oversold and hands us a good buying opportunity. In fact, let’s buy shares of TRUE here, as well as the TRUE October 2017 16 calls as well as the January 2018 16 calls.

Chart of Day: Pay Close attention to Vanda Pharmaceuticals (VNDA)

Aug 13, 2017

There’s some interesting activity in shares of Vanda Pharmaceuticals (VNDA), where options traders picked up an unusual number (2,529 contracts) of the VNDA October 2017 16 calls on Friday. One of the only reasons the stock slipped as much as it did in recent days was because of escalating tensions between the U.S. and North Korea. However, we are now beginning to see signs of potential upside after the stock found support around $15.25 and begun to reverse higher.

Technically, it’s oversold on RSI, MACD and Williams’ %R as well.

There are two ways we can trade this opportunity. One, we can buy the underlying stock at market prices, and or we can buy to open the VNDA October 16 calls, as other traders did on Friday.

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