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Bull Flag in FSLR

Home › Forums › Swing Trades › Bull Flag in FSLR

  • This topic has 1 reply, 1 voice, and was last updated 9 years, 1 month ago by Steven Place.
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  • April 2, 2014 at 11:20 am #2470
    Steven Place
    Keymaster

    After a MASSIVE move higher, FSLR has been basing out.

    fslr

    What this means is that higher prices are being accepted by the market.

    Can it head higher? Sure, but it could also just fart around in a new range for a while.

    The bet here is that it won’t go much lower.

    So I like bull put spreads here.

    Sell to Open FSLR May 65/60 Bull Put Spread for 1.20 or better

    fslr-risk

    If the stock loses 65 then we will roll down to lower strikes.

    April 14, 2014 at 9:26 am #2471
    Steven Place
    Keymaster

    We’ve picked up almost half of the total credit in the trade, but it keeps hitting this support level, that if broken will wipe out our gains.

    Put a stop at 66.30.

    fslr

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