TopOptionsAIerts
Nov 12, 10:53 AM
$QBTS DEC18 11C · still actionable
Zone:
$10.58 to
$10.72
Invalidation: close under
$10.48
Objectives:
$11.40, then
$11.79
The math: up 7.0% to the first objective and 10.7% to the second, against 1.6% risk on the invalidation, better than 6 to 1 to the second.
I like this swing because Wednesday held
$10.48 after earnings dropped it to
$10.11 on Tuesday, and buyers still closed it back at
$10.65. Earnings are already out, so you are not waiting on a report to move this. The zone is tight and the invalidation is clear, so you know where you are wrong before the move starts. If
$10.48 holds,
$11.40 is the first spot to watch for buyers showing up again.
Watch:
$11.02, the Wednesday high. A close over it shows buyers taking back the range.
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