Options Trading - CSCO Poised for Upmove

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• published: 01 Jun 2016
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Click here: http://goo.gl/bnDP4e (for FREE Daily Trade Tips) From Hawkeye Traders, this is your FREE trading tip of the day, with Mike Smith. Hey everybody, welcome to your daily trading tip and its Mike Smith here from Hawkeye Options and we're looking at CSCO today and we saw an interesting move on a few on their tech stocks yesterday in the last 15 minutes or so on yesterday’s session and we saw CSCO pop right up to $29 which would be a severe, a reasonably key price point in terms of the short term. We notice that we've been looking that we did have a break of around 28.75 which was the key line in the sand previously with these pivot highs etc. and also they see again in August on the 2 day chart and again in March and August on the weekly chart. So we had a move over that on this bar here. So at the end of last week and then we had a pivot high form and so we push back up to this 29.05 and this really is, as I've said before is reflective of where the market is now what’s struggling to break 2100 on the SP 500. But you'll notice that we have green volume across all three time frames. Green volume on the daily, today and weekly chart. We are in uptrend on all 3 volumes. So we're looking really for a continuation of the trend or confirmation or so. And so we'll interested in this, if it breaks the close of yesterdays So what we looking to possibly enter a bull call position looking for a scalp maybe at around about 29.15, probably towards the back end of the day. It is jobs week so be careful. We also have OPEC kicking around making decisions and all have possibility of moving markets so we trade with caution and lower position size on this and that's what we're looking at for today. https://youtu.be/UZPxkylDE20 options, option, options trading, stock, stocks, stock trading, options alert, technical analysis, options strategies, options trading strategies, how to trade options, trading options