VRA - Small downside, Large upsdie, bouncing on oversold RSI.

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Vera Bradley, Inc. (NASDAQ:VRA)

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NASDAQ:VRA Vera Bradley, Inc.

I've been watching this one for a few days. It historically bounces off the 35% - 25% RSI mark, and is approaching 30% right now with a turn upwards starting - You can see it in the MACD as well as the momentum and moving average are about to cross. I am entering 11/20/2020 $5 calls with stop losses at $4.80 and $4.51. With price targets at $7.60, $8.40, and $10.60. Let me know your thoughts!

Kommentera:

Price action took 2 months longer than I expected, hopefully, if you tailed my trade you didn't complete exit your trade via the stop loss recommendations. I kept most of my position live thankfully. First price target hit today of $7.60, I am exiting most of my position now. Lesson learned don't set stop losses too tight when you have options expiring over 3 months out.

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