Possible bounce of support then test upper trendline

١٢ أغسطس ٢٠١٩

Has good support of going sideways for over a year from $110 to $140. RSI is low and possibility of bounce is there like it has done cyclically in the past. Overall market selloff can break ALXN support of $105 area and head down toward $95 like in the end of 2018. Strong trade likely for a bounce off support and head towards upper trend line and test.

Option trade: 105 110 Vertical call debit of 2.85 Sept 20 and buy Calendar 100 Put debit of 0.10 Sept 20, 27