$Amkr dropped sharply from $95 and lost all SMAs. Found strong support at $42. Reclaimed and found support at 200-sma. Reclaimed 20-sma. RSI slopping up from oversold territory to neutral zone(50). ADX moving sideway(20), indicating sell pressure has diminished. $Amkr is in consolidation mode with immediate resistance at $65-70. Support at $48-50.
Action: Sell $70 calls and $48 put. Buy ATM calls for a possible $10 move to the upside.
$ASTD double bottom at $52. Making higher high and lower low since July 1st. 20-SMA crossed over 50-SMA on August 3rd and crossed over 200-SMA on August 6th. Both ADX and RSI slopping up along with price since July 29th.
Confirmation of reversal: If $ASTS make another higher high and close over $73.80, $90 will be the next target.
Action: Buy calls if reversal is confirmed. Exit trade at $90.
Newbie at technical analysis here. Please offer critique and inputs on analysis of $ON. Thanks!
What I gathered base on the chart which contain short sma(pink), medium sma(white) and long term sma(blue), is that $ON has been on a down trend and sitting right at the long term sma. Volume profile indicates that resistance is at $90 and support at $60. Since the selloff at the high, RSI sloped down and entered oversold territory while ADX has levels off in the 30, which means price possible consolidation.
Course of action: sell calls at $90 or higher strike. If price dips below the support of longer term sma with high volume, buy ATM put.