TopOptionAlert
Oct 20, 4:13 PM
$QBTS NOV20 12.5C · still actionable
Zone:
$11.79 to
$11.96
Invalidation: close under
$11.35
Objectives:
$12.69, then
$13.38
The math: up 6.9% to the first objective and 12.7% to the second, against 4.4% risk on the invalidation, about 2.9 to 1 to the second
Dear friend, picture a stock that fell down the stairs for a month and finally landed on a floor that held. D Wave is down about 31 percent in a month, yet buyers held the 11.35 dollar low from last week again this morning near 11.51 dollars and lifted price back near 11.88 dollars. What that means is this swing setup has a close floor and room back toward the highs it left behind last week. A close under 11.35 dollars says the floor broke and you step aside.
P.S. Watch 12.18 dollars today. It is the high so far, and a close over it would show buyers pushing off the floor, not just resting on it.
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