Insiders have sold $239 Million shares on MAY 29TH. We expect price to rally from these lows to visit the 50% Fib levels. This is a contrarian play as 4,024 Puts are in play which means more Bears are betting on a drop. This means a lot of Stop Loss orders are prime above the $170 level. This will be a Fade the market play.
Trade closed: target reached
Trade played out as expected. Kudos!!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.