Keep in mind that the selloff thus far from Monday’s $620 high is all bullishly corrective relative to the $565 low recorded on June 28. It’ll take nothing less than a $13.56 booster rally to get this stock launched, but the upside potential over the near term would be to new all time highs above $644. Accordingly, we should look to get long via camouflage if and when the point ‘X’ of the pattern is triggered. I may suggest buying calendar spreads at a far-out-of-the-money strike, so stick with this one if you’re interested in seeing how that strategy can dramatically reduce risk.
