FJ43 said:
TxAggie-12 said:
Not sure if this one has been mentioned, but curious to get other thoughts on this setup
SSTK heavy volume yesterday with new highs after about a month of consolidation, appears to have the stair-step climb with consolidation after each run up, volume picked up starting late July, positioning for next run up?
Hopefully, I learned how to post a picture that is not blurry this time.
ETA: I'm a beginner at identifying setups
Interesting action on this one. After that spike in July and some retracing it has been steadily upward, pausing for about 4-6 weeks and consolidating. Just did that between $66-70 and now breaking out all over again. Volume spikes at 7/28, 9/18, 10/27 and yesterday 12/1 have all signaled the next leg up for about $10 a round. Being at ATH who knows where this goes but the trend is the friend at the moment. My guess next consolidation level is around $80ish.
PS - Good job on posting the chart.
Assuming this is or will be a confirmed breakout, your thoughts regarding a run up to the $80 area is what I'm thinking as well for the next leg up.
SSTK closed yesterday above $72 with another day of increased volume. Does the price have to close above recent high (12/1) with sustained volume to be considered a breakout confirmation?
Daily chart zoomed in with yesterday's action added
Looks like Dec 75C had unusual activity, yesterday OI was 219 and ~3,100 contracts were traded.
Any thoughts on a potential short squeeze? This website says 8 days to cover as of 11/15. With price near new highs and low trading volume between 11/15-11/29, I thought this may be a possibility.