SSYS – Buy Setup Comes into Focus

We are working off a buy setup in Stratasys (SSYS, $101.23, up $3) , where we had both key Fibonacci time and price parameters that suggested a low.  The price support came in at 89.42-93.13.  The timing cycles came due between 9/12-17.

Now this has already been followed with a buy TRIGGER.  Since target 1 is all the way up at the 119.35 area, you can still look at entering the buy side in this stock via options.  October expiration (10/18) is close to the expected timeframe.  You can either wait for a pullback and then risk below the recent lows, or you might find a strategy that will allow an entry around current levels.

………

I will consider myself wrong if the 9/13 low is taken out…otherwise I’m shooting for target 1 at 119.35!
CB 9 24 ssys

  • SBTrades

    “you will consider your self wrong if … “.

    Well, that was your first problem. you should consider yourself wrong for thinking that you could possibly be right or wrong on the stock in the first place. The only thing that matters is PnL and being right or wrong only grows your ego.

    Growing your PnL involves making money when you are wrong and right, the trade needs to make money, not prove you right or wrong.