Price could veer through the resistance of 311 and remained below 321-- second resistance as expressed yesterday. Well done. Negative Divergence on Stochastic was mauled by strong bullish sentiment.
What now? Pitchfork and OI Table should help us.
Today bears built huge position at 320 Call strike (total 1593000 shares added) and this is standing as the big wall of resistance --the highest Call OI. This level is the resistance of Pitchfork as well. So if bulls can demolish this wall, 334 can come easy where previous high is seen.
Disc: I have interest in this counter. Yet my study is fully objective and without a tinge of bias.
What now? Pitchfork and OI Table should help us.
Today bears built huge position at 320 Call strike (total 1593000 shares added) and this is standing as the big wall of resistance --the highest Call OI. This level is the resistance of Pitchfork as well. So if bulls can demolish this wall, 334 can come easy where previous high is seen.
Disc: I have interest in this counter. Yet my study is fully objective and without a tinge of bias.