• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

IWO Trading Floor

Become a Great Options Trader

  • Customer Center

Breakout Trade in UNP

Home › Forums › Swing Trades › Breakout Trade in UNP

  • This topic has 1 reply, 1 voice, and was last updated 9 years, 8 months ago by Steven Place.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • September 13, 2013 at 12:49 pm #2602
    Steven Place
    Keymaster

    UNP is putting in a potential inverse head and shoulders bottoming pattern on a 30 min chart. The key level of resistance is right at 158 and if it can get above that, then the 52 week high will most likely act as a magnet.

    unp-30

    I don’t think it’s worthwhile to anticipate the breakout here as it did finish at the lows, so just set an alert at 157.25 to get ready for the break.

    If it gets and holds above 158, then buy the October 160 call. Initial target is just under 52 week highs at 163– if we get there, consider spreading your calls by selling the 165 call against your long call, which converts it into a bull call spread.

     

    September 16, 2013 at 2:56 pm #2603
    Steven Place
    Keymaster

    Trade still isn’t there yet, waiting for a move above 158. That pattern has changed a bit to more of an inverse head and shoulders pattern.

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

This is the Forum Sidebar Widget Area. You can add content to this area by visiting your Widgets Panel and adding new widgets to this area.

© 2021 Global Profit Systems International