BY LICIA LESLIE 

August 25, 2023 

Each week, I’ll give an overview of a stock and Licia Leslie will follow that up with a chart analysis the next day. Bill Griffo will chime in with macro analysis and Andrew Giovinazzi will then finish out the week with a volatility breakdown.

Have a stock YOU want us to review? Email my team here. – Mark

Hey Traders,

Let’s take a closer look at the Generac Holdings (Ticker: GNRC) chart.

Here is my pitchfork:

GNRC may not be trading $500 any longer but it does look to be a pretty volatile stock and it follows along my pitchfork really well.

That provides opportunity for us option traders.

After rolling over, literally at the top where my resistance line is, it has traded right to the lower end of support and bounced, for a second time. 

The stock looks to me like it wants to rally from here and complete the cycle again, trading back to the top of the pitchfork which comes in around $160.

That means perhaps some longer dated calls that you won’t get shaken out of.

And use a close below that low of $104.70 as your stop loss area.

Trade accordingly.

Thanks for Reading … See You Next Tuesday,

Licia Leslie