A couple weeks ago we looked at a biotech stock PODD that we watched on the way down and spotted a reversal. You can check out the article here. We noticed that it had found support and confirmed a reversal. The giveaway was our favorite indicator, the MACD Crossover.
We looked at a target of 300 and yesterday it closed at 296. That pushed the call options up almost double.
When you find a good indicator and it is working in the current market climate, it pays to keep using it. We could hold on to PODD calls and see how high it can go, but it makes sense to lock in the profit and look for the next crossover setting up.
We’ll take a look and make sure we let you know when we see the next one.
Keep learning and trade wisely,
Market Wealth Daily