ALGN Crossover Swing Idea

9月15日

ALGN

Crossover has triggered on the daily, which is a sign for entry on the next trading day (Monday). However, with this stock, I first want to see it clear 245. If you look left on the daily, this level was a gap and go spot, and has since been tested several times as both support and resistance.

Given that, if it opens above 245, I'll look for a pull back to that level, if it opens below, I'll look for a smaller time frame confirmation above it.

SL: 229.37 (just below Friday's LOD)
TP: 271 (Previous strong high and top of daily supply)
A safer TP would be the 265 area, which can also be a good trim level (start of supply).
Possible further headwind at 255

Max Date: Market open on Thursday the 26th

^^As always, if targets have not been reached by max date, I will exit at market open.

What I'm buying:
Not a high-liquidity options trader, but the Oct18 cons have some OI. I'm looking at a vertical debit spread, buying the 250c, selling the 260c for a debit of ~3.60 and max gain of ~6.40 (at expiration, if the underlying is over 260).
Roughly, the spread is expected to loose 1.81 and gain 3.67 on the Max Date

9月16日

交易進行

I was side-tracked and could not enter at open, but so far it played out perfectly as it opened just at my trigger level and blew past it. Has since sold off a bit, but still very much an active trade. I'll do my best to track this, but no position for me.

9月17日

註釋

Wow what a move here, and I missed the entry. Consider trimming here if in