KRKR made a big move this week after the Q2 earnings call. I believe that it is now overextended.
On the 15-minute chart, the big price action is seen. However, the RSI indicator shows a flat relative
strength suggestive of bearish divergence. The Mass Index peaked out over 27.5 and is now dropped
below is the suggested trigger for a reversal of 26.5 Trading volume is about 250% of the average
on Friday overall while concentrated on the early morning rapid trend reversal and late afternoon
profit taking. I will look to capitalize on a quick downtrend correction with a put option with
5DTE below the current market price for maximal return albeit with the added risk of time decay.
Trade active
Partial Profit taken with over 40% return on call option as price dropped over 5%augmented by the general market pullback. Will close the trade Friday mid morning.
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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.