By Licia Leslie
February 7, 2025
Hi Shoppers,
My box range chart is the iShares Russell 2000 ETF (Ticker: IWM):
IWM looks primed to break out to the upside over that box range and trade up to $236.
Now as I said, wait for the stock to trade outside the range and in this case that would be over $230.
Looking at the options, the Feb11 expiration looks the cheapest:
I like the 230 calls.
Use a close below $229.25 for your stop loss.
Trade Review
International Paper (Ticker: IP) did break down and traded to $52.25 (I called $52.50) and then bounced back to the median line closing near the high of the day. It now looks geared up to trade $58.68.
Thank You For Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
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