27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
With the S&P 500 printing new highs above the recent $1515 resistance, we expect more upside to follow into next week. Here are some long breakout setups for the week ahead 2/11/13.
Stewart Enterprises Inc. (STEI)
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Weekly- Forming an ascending triangle with resistance at $8.40-$8.50
Daily- A confirmed breakout over $8.50 would suggest a long opportunity.
Citizens Republic Bancorp (CRBC)
Weekly- Weekly price forming between $17-$21
Daily- Breakout over $20.80 would suggest a long opportunity.
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IntraLinks Holdings (IL)
Weekly-$7.00 level has acted as support and resistance for over a year.
Daily- Ascending triangle formation with $6.80 resistance. Breakout above would suggest a long opportunity.
First Midwest Bancorp (FMBI)
Weekly- Multiple year resistance at $13.50
Daily- Price failed to hold ascending triangle formation, but was bought up rather quickly. Near term resistance at $13. A breakout over $13.50 would suggest a long opportunity.
See the original article HERE. Head over to The Smarter Investor for more actionable technical analysis!
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.