Recently < $4 - will FIFA World Cup be a price rally tailwind?
Even though I wonder if World Cup (football) - American soccer - will help this stock rally, this trade idea is purely technical with low risk. You can see an expanded weekly chart to see how few times price has dipped below $4.00. Notice how long RSI and stochastic have lingered in oversold territory, and on a weekly chart this is unusual.
Based on my options study, and wanting to hold through earnings and World Cup, I bought 19Aug 10 strike calls for $0.31. You can buy stock, or take Jun or Aug calls at a lower strike also and still use little capital.
To start, I want to see a move over 7 and over 20sma. I have a very small position to hold for a high reward low risk trade so I am not setting a stop loss on this position.
Based on my options study, and wanting to hold through earnings and World Cup, I bought 19Aug 10 strike calls for $0.31. You can buy stock, or take Jun or Aug calls at a lower strike also and still use little capital.
To start, I want to see a move over 7 and over 20sma. I have a very small position to hold for a high reward low risk trade so I am not setting a stop loss on this position.
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Earnings after close today.
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To clarify, the title implies that qualifying matches over the summer may help bring interest in this stock. Actual World Cup games begin Nov. 21, so depending on what happens over the next few months I may eventually buy calls that expire in Dec. or in early 2023. For now, I plan to keep watch throughout this year for any good technical setups.
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After dipping below 3 yesterday, I am trading this now for a quick swing trade.