TopOptionAlert
Oct 24, 11:53 AM
$RGTI NOV20 12C · still actionable
Zone:
$11.44 to
$11.60
Invalidation: close under
$11.19
Objectives:
$12.20, then
$13.00
The math: up 5.9% to the first objective and 12.8% to the second, against 2.9% risk on the invalidation, better than 4 to 1 to the second.
Dear friend, picture a stock that fell hard for a month and finally found its feet right near its 52 week low. This is a swing, and the idea is simple. You are betting Friday was the turn, because price held above the 11 dollar and 19 cent low from that same day and closed at 11 dollars and 52 cents, with room back toward 12 dollars and 20 cents first and then toward 13 dollars, while a close under that Friday low says sellers are still in charge and you step aside. The next report lands in early November, so this November 20 window gives the story time to be retold.
P.S. Watch 11 dollars and 61 cents, the Friday high, because a move over it shows buyers taking back ground.
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