I have a trade I am going to enter tomorrow. The chart looks ripe for a continuation, and it doesnt hurt that the stock is also looked upon unfavorably. I like going against the general consensus and the general consensus for this stock is down. I think its going the other way and will make a big 8-12% move to the upside in the next 3-5 trading days. The chart looks ripe for a breakout. What stock is it I am talking about?
$CLF.
This is one of the most heavily shorted NYSE names.
I think its ready for more gains and the stock could see $25 in the near term. I am looking for the $22 weekly calls for $.20 and next weeks $23 calls for $.20.
The stock looks ready to break out of a wedge after putting in a nice 'W' bottom.