TopOptionAlert
Oct 21, 3:45 PM
$QBTS NOV20 13C · still actionable
Zone:
$11.95 to
$12.11
Invalidation: close under
$11.63
Objectives:
$12.87, then
$13.64
The math: up 7.0% to the first objective and 13.4% to the second, against 3.3% risk on the invalidation, about 4 to 1 to the second
Dear friend, picture a stock that has been pushed down the stairs all month and is finally standing still at the bottom without falling further. This quantum name lost about a third of its value in a month and touched 11.35 dollars on October 15, yet today it is holding near 12 dollars after buyers defended 11.81 dollars this morning, and what that means is the sellers met a floor that would not move. This is a swing setup on a washed out name, with earnings on November 5 giving the bounce a real date to work toward and room back toward the highs from last week if that floor keeps holding.
P.S. Watch 12.11 dollars first. It is the high so far today, and a close above it would show buyers pressing, not just defending.
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