Head and Shoulders Pattern

Licia Leslie

Licia Leslie

Licia Leslie

Hi Shoppers,

 

I am seeing an inverse head and shoulders pattern in Delta Airlines (Ticker:  DAL):

 

 

I think DAL can continue to trade higher from here. I think it can trade back to $48.

 

With the crazy moves we’ve been having, especially yesterday, I will watch this closely before buying my calls.

 

I am looking to buy the Oct. 15 44-strike calls, paying up to $1.20.

 

I will be watching the market in general, too. If we have a big down day again today, I will wait to buy these.

 

Trade Review

 

      • In iShares FTSE China (Ticker:  FXI), I still have my calls and FXI actually held up pretty well during yesterday’s selloff.
      • I recommended calls in Draftkings (Ticker:  DKNG) and puts in MGM Resorts (Ticker:  MGM), neither stock made the move I was predicting so no trades were made.

 

Get your windows cleaned! 

 

And also get the details on Mark’s Big Money Flow!

 

Thanks for Reading … See You Next Tuesday!

 

Licia Leslie

Licia Leslie

Licia Leslie

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About the Author

Licia Leslie

Licia Leslie

Former CBOE floor trader and CIO at Karman Line Capital. Author of ‘The Option Traders Hedge Fund’ with over 30 years of options trading experience.

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