Bigbuk,
>Interesting chart here on COHR. what are you thoughts?
I am short and have puts Feb 45s for now.<
Symmetrical triangle on weekly chart and instead of continuing the uptrend, it clunked down to $24. So the primary trend is now down.
siliconinvestor.com
However, it has rallied to above the daily 20 EMA and 200EMA. It appears to be at a critical point now, and if it fails the $49 support level test, good probability it'd retrace to who knows how low. If it does retrace, the target is $45.
Also, fundamental issues can make the stock jump big either way. For example, if the sector is weak, a downgrade on a competitor can make it also clunk down. All the stocks I trade, I know the stories about them, helping me to assess the probability of surprises. Dunno the story to Coherent. Curious, what reasons made you buy the puts ... why do you expect the stock to go down?
Anyway, based on the chart alone, the probability is stacked toward the stock moving down.
BTW, you mentioned before that you're on trial period with tradefreedom. How is your test run? Happy? I'm looking forward when a Cdn DAT with reasonable fees arrive. |
