Will this undervalued drug retailer break out of weekly Memory resistance?


1) Its industry gained strength today.

2) The stock is up by more than 14% as of this post.

3) Undervalued with (4) positive and increasing earnings growth and (5) a short squeeze potential.

6) More than 70% of peer stocks are up today.

7) Relative Performance is very strong.

8) The stock is about to break above weekly Memory resistance.

9) I was tracking the stock since last earnings when it gapped up with a massive up move and (10) that was accompanied by Extreme Bullish Pressure and (11) Extreme High Volume.

12) After that, it paused for a day and today again it is shooting up, giving a possible buyable gap-up entry. 

13) It is displaying Bullish Pressure again today.

Will you consider buying it? Or wait before buying? If you buy, what instrument will you consider using?

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If you are accurate in your direction and are shorting Puts when volatility is high, then even one day makes a lot of difference.

1) When I shared the post on $RAD yesterday, I had shorted some Put options (which is very risky unless you are ready to buy the stock anyway - I don't suggest beginning options traders to short naked puts or calls). 

I had timed that trade well yesterday using CUE Fine Tune real-time chart.

2) Today, RAD is slightly down.

3) Still, I have more than 40% profit in that short Put trade. That is because of the volatility drop. That was my expectation, and that was why I shorted the put. One technique is to book profit when the short put hits 50% or more profit level. 

What is your technique? And did you take a bullish position in RAD at all?

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Since I first posted about $RAD seven days ago, it did break out of the Memory resistance in the weekly (1).

I had taken a short-put position that I exited with a good profit and then I took a long stock position with some of the profit. The long stock position is also in a profit and I will try to make sure not to turn it into a loss. I have more than 6% profit in the stock position.

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