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Rabu, 01 April 2020

Two Patterns Stocks Could Follow This Month

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April 1, 2020

Two Patterns Stocks Could Follow This Month
By Tom Gentile

Dear Reader,

It's the first trading day of the second quarter of the year - also known as April Fool's Day.

But I'm not here to bring you any pranks or jokes. Frankly, I'm not so sure that's what the world needs right now.

This morning started off with a bang, markets opening in the red across the board and continuing to plunge from there.

I see two possible scenarios occurring over the next month. First - the ABC pattern:

*Chart from Yahoo! Finance
Click to Enlarge
As you can see, stocks have already followed one ABC pattern - down, up, then down again. From there, they could go back up, down, then up again - setting off a stock rally.

But the second scenario isn't so green:

*Chart from Yahoo! Finance
Click to Enlarge
We could see stocks trade even lower this month, falling back down to the 2,000-level as well.

Both scenarios are at play right now. But here's the thing - we can profit on either.

When stocks are rising, we can use bullish plays like bull put spreads and bull call spreads.

When stocks are falling, we can use bearish plays like bear call spreads or bear put spreads.

That's the beauty of options trading. It doesn't matter where the markets go in April - we have the tools and strategies to profit no matter what.

As always - good trading,

Tom Gentile
America's #1 Pattern Trader

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Rabu, 01 April 2020

Two Patterns Stocks Could Follow This Month

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