The daily chart for XHB has become too messy to trade effectively. Price reached resistance target of 61.8 fib (from 2007 highs-2009 lows) and is since in a wedge/triangle/complex H&S/consolidation.
I am not sure of direction of the breakout but I am expecting volatility in the coming months. $30 and $31 have acted as strong res/supp points on the daily chart.
Thus I am looking to play a long strangle strategy. I am looking to roll out my $31/$30 strangle to Feb-March 2014.
I will play a pure directional strategy with common shares once a direction is confirmed so as to leverage the strangle.
Upside target would be Fib 76.4. Downside target around $25 and below
I am not sure of direction of the breakout but I am expecting volatility in the coming months. $30 and $31 have acted as strong res/supp points on the daily chart.
Thus I am looking to play a long strangle strategy. I am looking to roll out my $31/$30 strangle to Feb-March 2014.
I will play a pure directional strategy with common shares once a direction is confirmed so as to leverage the strangle.
Upside target would be Fib 76.4. Downside target around $25 and below
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.