BY LICIA LESLIE
December 13, 2023
Hi Shoppers,
Take a look at the General Motors (Ticker: GM) chart:
It is consolidating just under the 200 day moving average.
Watch for the stock to bust through and close above there or it may roll over and trade lower.
I do not see resistance until $37.00.
I like the calls expiring on Jan19.
Just be sure you see a definitive close above that 200 day before hopping in.
Trade Review
Crude futures had begun to rally and then just fell out of bed yesterday.
They could be testing that support level again.
Watch for a change in trend candle in Occidental Petroleum (Ticker: OXY) to be bottoming before entering on the long side.
Thanks for Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
See what's hot at option pit
CAPITOL GAINS: SMR Aug16 7 call closed for a 150% gain
DELTA STRIKE: VLY Mar15 8 puts closed for a 88% gain
PFE May17 26 calls closed for a 66% win
OP MENTORING: SPY Mar22/19 510 put calendars and 520 calls for 6.4% gain
OPTION SHOPPER: ERX Mar28 65 calls closed for a 90% gain