Below is a weekly chart of Johnson & Johnson (JNJ).
Trade: Consider buying Jan (1/19) $135/145 bull call debit spread (46 DTE) for around current mid-point of $6.00/share (which has small positive time value).
Technical Setup: Breakout daily from bullish consolidation on 20MA, Master Trader Buy Setup and bullish engulfing above r20-MA weekly.
Option Strategy: Bull Call Debit Spread (BCS).
Stop Loss: $137.47.
Happy trading! If you have any questions or comments, please e-mail Greg Capra at Greg@mastertrader.com or Dan Gibby at Dan@mastertrader.com
All the best,
Greg Capra
Managing Director of Master Trader
Pristine’s Founder and Creator of the Pristine Method
Dan Gibby
Chief Options Strategist
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