FB - watch this consolidation - higher high on 30 min chart

Aug 18, 2020

See daily chart along with this 30min look. RSI has tested 50 line twice and is holding above it (see black box on chart RSI. There are two dotted lines for upper resistance, depending on how you draw your lines. I prefer the upper dotted line, but I bought calls based on the higher high and the potential bounce off 10sma on daily chart. Also the directional volume has just started moving up, and stochastic is above RSI on both timeframes.

Aug 19, 2020

Trade closed manually

I profited on a day trade yesterday with 262.50 calls, and today I sold (closed) weekly 265 calls for a profit. However I caution against holding calls here, because the stock is overbought based on 30 min directional volume, and more importantly price is hitting a major resistance line on daily chart. It is not shown on the chart here, but you will see this resistance by connecting the lows from Dec. 2018 and early June 2019.