$VET Double Top Short-Term Put Opportunity

8 Haz 2021

VET looks to have created a double top. The last candle was a belt-hold engulfing candle (two reversal indicators) and today was followed by a downward gap (that turns into resistance). I just opened a Put to take advantage of the decline to either verify the support with the gap left on 1Jun for a 5% gain (more with options) or if it closes that gap and continues downward, there's a chance for 8-24% profit before it finds a new support. RSI, MACD, and OBV are also bearish when comparing the two peaks.

This is still on a long-term uptrend, so I don't anticipate this to turn into a major downswing! I just added a Put to collect on the small downswing in addition to my Call that I'm holding.