BonusTrade Idea For The Week of September 23, 2013: F5 Networks
Dragonfly Capital | Sep 23, 2013 08:27AM ET
Here is your Bonus Idea with links to the full Top Ten: F5 Networks, Ticker: (FFIV)
F5 Networks, (FFIV), has been moving higher since late August in a 5-0 Harmonic pattern. Stalling near the C point it worked through and is moving again,, with a Measured Move higher to 100. That would fill a gap between 99.50 and 99.79 as well. The Relative Strength Index (RSI) is in bullish territory and the Moving Average Convergence Divergence indicator (MACD) is rising, both supporting more upside. There is resistance at 94.45 and then that gap before 104.15 and 108. Support lower comes at 92.25 and 90.60 followed by 88.20 and 85.20. Trade Idea 1: Buy the stock on a move over 94.50 with a stop at 91.75.
Trade Idea 2: Buy the September 95 Calls (offered at 92 cents late Friday) on the same trigger.
Trade Idea 3: Buy the October 95 Calls ($2.46).
Trade Idea 4: Buy the October 95/100 Call Spreads ($1.51).
Trade Idea 5: Buy the September/October 97.5 Call Calendar ($1.27).
Trade Idea 6: Sell the October 82.50 Puts (36 cent credit).After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Original post
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