YOUR ACTION PLAN Five Below (Nasdaq: FIVE) has a very bullish daily chart and is currently building a bull flag near all-time highs. I'm looking to enter this trade on a pullback to the 55-day exponential moving average (around $195). I'll use a daily close under $190 as my stop, and I'm targeting a move back over $205, possibly to $210. I like the April 21 $195 calls, a call debit spread at $200 and $210, or perhaps an out-of-the-money call butterfly. P.S. If you're looking for more trades like these, I highly recommend checking out The War Room. It's a community run by veteran traders Bryan and Karim. Communities like this are where I cut my teeth trading, and the advice I received was a big help in developing my million-dollar TPS system. Right now members are guaranteed to receive 252 winning trades in their first 12 months of membership. Click here to join The War Room. |
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