Selling another set of puts as the ones at strike price of 17 should expire worthless (fingers crossed). Prices across the board for data centres/ neoclouds have all risen in tandem with bullish news of new contracts signed for further expansion and growth of the industry.
Technically speaking, MACD on the daily chart has finally formed the golden cross with increasing volume, making a V-shaped recovery over the past few days. On the weekly chart, MACD is also beginning to flatten and slope up, signalling further bullishness on the higher timeframe.
Price has managed to close above the 50 and 200 day MA today but got rejected at the 100 day MA, also closing below the 0.618 fib at 18.756 (drawn from the recent low of 11.72 to the recent high at 30.14).
Institutional holdings of the stock has reached all time highs and looks like accumulation by institutions has been completed for now, allowing the price to finally surge upwards.
Prices decreasing on decreasing volume (lacking selling pressure) was the sign to look out for. With prices increasing with increasing volume (signalling buying pressure), smart money is now aggressively pushing the prices up.
Have been selling puts on the way down and am aiming to sell more puts on the way up as well to ride the trend.
| Side | Price | Filled | Realized P&L |
|---|---|---|
| Sell Open | 0.90 10Lot(s) | -65.55% Holding |
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- BellaFaraday·09-09TOPThat institutional accumulation call feels early — 18 strike put OI can mean hedge flow or someone leaning on the name. Daily MACD looks better, but that 100 day MA rejection still matters.LikeReport