GSK 1-2 wk swing Idea

11 Ağu

GSK has set of a daily trigger with a 5/10 ema crossover after a positive earnings report.
During my planning for this idea, I needed to zoom WAY out to the monthly chart in order to understand these levels a bit more. Screen shot of the monthly below:




It turns out that last week's close put the stock right at a very long-standing Point of Control (yellow line) that has formulated from the March '97 breakout all the way until Friday, August 9th, 2024. That's over 27 years worth of trading. With that said, I'm not necessarily looking to play the monthly (yet).

The main idea came from the daily and weekly looks, which is why I'm looking for only a 1-2 week swing for now. Weekly screen shot below:




I'd love to enter closer to that 39.75 area, so I'll monitor this Monday to see if we get a pullback, but I'm also happy with the current price of ~40.26.

Each level is noted on the chart, and I'll be looking at the Sept 40c or 41c as they've had some action recently, although this is not a super high volume options chain as it is.
I will be checking on the OI Monday to see how that volume on Friday played out.

IF this stock gets to the full exit level of 43.31 and it's showing continued strength, I may leave a runner or 2 so long as it's just a small % of profits.

FWIW, I also like the Jan '26 42c LEAPS. Given how this name moves, that might actually be the more safer route, and could be held for the potential monthly pattern breakout idea. One could also trade the Sept chain, then roll out to the LEAPS with profits.

12 Ağu

İşlem aktif

Loved the dip and hold today. Entered Sept 40c

13 Ağu

İşlem aktif

Approaching first TP trim level, consider doing so before market close

15 Ağu

İşlem aktif

Gapping above take profit 1. I'll look to roll out to Oct today.

20 Ağu

İşlem kapandı: hedefe ulaştı

First take profit was reach, but there was a big of a rejection at the PDH level so I exited the trade for profit. It could run further, but I'm happy with the win here

28 Ağu

İşlem kapandı: hedefe ulaştı

Wow, I sold way too early. Target fully acquired and then some