By Licia Leslie
August 9, 2024
Hi Shoppers,
Baxter International (Ticker: BAX) is ready to take its next leg higher:
It is consolidating over the old resistance now new support of $36.67.
I think it can trade up to $39.10 and possibly $39.96.
The 200 day moving average is sitting at $37.49 so wait for the stock to trade over that for a bit.
Once it clears there, I will be looking to buy the Aug16 37.50 calls:
Use a close below $36.67 for your stop loss.
Trade Review
I last wrote that NextEra Energy (Ticker: NEE) was going to trade lower after making a double top. The stock is consolidating here and I would not take a short position until it trades below $76.57.
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