- Posted by Greg Harmon
- on December 18th, 2023
Here is your Bonus Idea with hyperlinks to the total Top Ten:
The image above is Nela Park, previously owned by General Electric, $GE, lit up in East Cleveland for Christmas. The property was retained by GE Lighting however offered off in 2022. My household used to drive although to see the lights once we first moved to Cleveland and had 2 younger kids. It is lit up for this yr as nicely to retain the custom.
The inventory comes into the week at resistance in consolidation after reversing a shallow pullback by way of October. The Bollinger Bands® have squeezed in and are actually opening increased. The RSI is within the bullish zone with the MACD optimistic and seeking to cross up after resetting decrease. There is resistance at 123.50 after which trying again to 2017 at 133 and 137.50 then 142.50 and 144.50 earlier than 149.50 and 150.50. Support decrease is at 120.50 and 118.50 then 116.75 and 114.25. Short curiosity is low beneath 1%. The inventory pays a dividend with an annual yield of 0.26% and goes ex-dividend on December twenty seventh.
The firm is predicted to report earnings subsequent on January twenty third. The January choices chain exhibits the most important open curiosity close by on the 120 put and the 125 name strikes. In the February chain it’s largest on the 110 put strike and the 125 name. In the Mach chain open curiosity is largest at 80 and 75 on the put aspect and at 135 and 125 on the decision aspect.
General Electric, Ticker: $GE
Trade Idea 1: Buy the inventory on a transfer over 123.50 with a cease at 118.50.
Trade Idea 2: Buy the inventory on a transfer over 123.50 and add a January 120/115 Put Spread ($1.14) whereas promoting the January 130 Calls (96 cents).
Trade Idea 3: Buy the January/February 130 Call Calendar ($1.87) whereas promoting the January 115 Puts (67 cents).
Trade Idea 4: Buy the March 110/130/135 Call Spread Risk Reversal (5 cents).
use this links to get particular Holiday Sale Pricing!
After reviewing over 1,000 charts, I’ve discovered some good setups for the week. These have been chosen and must be seen within the context of the broad Market Macro image reviewed Friday which with the December FOMC assembly and Quadruple Witching within the books, noticed fairness markets publish one other stellar week as they head into the final full week of the yr.
Elsewhere search for Gold to proceed increased whereas Crude Oil continues to pattern decrease. The US Dollar Index continues to float to the draw back whereas US Treasuries proceed of their quick time period uptrend. The Shanghai Composite seems to be to proceed the pattern decrease whereas Emerging Markets presumably break resistance to the upside.
The Volatility Index seems to be to stay very low and steady making the trail simpler for fairness markets to the upside. Their charts look robust, particularly the SPY and QQQ on the longer timeframe. On the shorter timeframe the IWM, QQQ and SPY might use a reset on momentum measures as all are prolonged. Use this data as you put together for the approaching week and commerce’em nicely.
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