A Lesson For The New Year

Hi Shoppers,

Friday formed a beautiful hammer in Bristol-Myers Squibb (Ticker: BMY):

It’s beautiful because BMY has been on a downtrend since December 5th, trading down $10.

Also, the longer the lower shadow the more powerful the hammer will be.

Be sure to wait for a confirmation of BMY trading higher on Tuesday until at least 10:30-11:00 AM.

I think BMY can trade back up to at least $74-$75.

Trade Review

Nvidia (Ticker: NVDA) traded lower most of Friday closing up a few cents keeping the chart intact.

Well Fargo (Ticker: WFC) closed down a few cents but the chart is still looking bullish.

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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