Profitable Trade Setups (ideas) thread

Making this thread so we can share potential profitable setups. I don't get to go over stock scans all the time, so I know I miss some.

Hopefully we can all benefit from some fresh ideas!

This thread is for TA plays so please post your charts, what you think the stock will do, and why. Also what you think the best play is on it (options - what strike/month, or just common stock).

I'll start it off......

-------

CREE Short - June 24x puts which closed today at .87

I'm looking for CREE to move down to the 22.75 - 23.00 area by next week. Currently at 25.07. So still about 8-9% of downside to go IMO.

Failed to retrace back up Tuesday/Wednesday and now it looks like another leg down is coming. Also the CEO just left last week, went to work somewhere else.

Here's the 120 day chart. That purple horizontal line is the support area I'm looking at. It's support from January, and will also be support from the 61.8 arc fib. I believe we'll see a bounce at this level, but technically it could still break and go down towards $20.

^^ CREE down over 3.5%. Puts now at 1.20. Almost ITM at 24.20 now. 

Puts up 38% so far.

CREE ITM now. Puts at 1.30

Quote:

Originally Posted by o7media 

CREE ITM now. Puts at 1.30

CREE -6% Puts at 1.50.

Still looking for that 22.75 - 23.00 area

V Short - June 110x puts, closed today at 2.00.

Probably can get it cheaper on Monday with the little time decay this weekend, assuming it doesn't gap down. But anyway, V looks broken here. I'm looking for a gap fill down to $108.64 first, and a little more downside into $105's.

$105 is the next target on the daily and monthly, so that's my target area. The weekly shows downside to around $108.30 next week. So I'm only looking for a gap fill into next week. Then the next support on the weekly is the $105 area. So to reach $105's it'll probably be by expiration which is alright since they're 110x puts and will be ITM.

Quote:

Originally Posted by tones 

HSY Short - June 65x puts, closed today at 0.62

 

HSY went on an epic run, but it's looking bearish here. The daily closed with a gravestone doji and it looks like it's ready to fill that gap it created after the earnings release. Thinking it may go down to the 100 ma. See chart below:

 

 

GL HF.

 

Disclaimer: I am not responsible for any losses. Use your own discretion.

Interesting. It does look good for a bit more downside. Looks like it could head for 64.75 - 65 next week.

btw that's not a gravestone doji 

Quote:

Originally Posted by tones 

Then wtf is it? I've been searching google for hours trying to find the right name

It's an inverted hammer lol

A gravestone doji is basically a rally right at the open never going lower than the opening price. Then giving up the gains and closing at the low, again not breaking the opening low. So it finishes without having a body, only an upper shadow.

Quote:

Originally Posted by BobK 

Posted same time 07. lol

Mine is first! 

Quote:

Originally Posted by tones 

MA may be going for the gap fill too since it and V are alike in charts, but that 200 ma is in the way for MA. Oh well still think MA goes lower.

Yeah I like MA for more downside too, but like you said that 200 ma is in the way. Plus it has already sold off quite a bit. V is still holding up well, but starting to break down.

Quote:

Originally Posted by tones 

Lol ok thanks to the both of you. I just view these candles as either bullish or bearish and go on my way

lol ...they can be bullish or bearish though. depends on the action before it.

Quote:

Originally Posted by BobK 

 

Ha. But I posted the link. I wanted to say it was a hanging man but I wanted to verify so I was looking at the stick definitions. I still think it should be called the hanging man.

Touché 

But, it's not a hanging man. Hanging man is a hammer at the top of a rally.