Although the Chinese Large Cap ETF (FXI) has been selling off, I think the Chinese company JD.com, (Ticker: JD) is making a comeback.
Check out the stock chart:
JD closed at 73.56 on Friday, and I think it will trade back to $80.
Looking at the size of these candles, this stock is a mover and a shaker — and I think it could move by the end of next week.
I will be looking at the July 16 just-out-of-the-money calls, which are the 74-strikes.
As long as JD opens and trades higher on Monday, I will pay up to $1.20 for the July 16 74s.
If it trades over $2, I will take my profit.
If it trades down to $.80, I will exit.
Thanks for Reading … See You Next Tuesday!