Below is a daily chart of Fastenal Company (FAST).
Trade: Over $54.53, consider buying stock.
Technical Setup: Bullish consolidation above r20-MA daily after all-time highs, bullish weekly and monthly.
Stop Loss: $52.38. Note: earnings 1/18/18.
Below is a daily chart of Alphabet Inc. (GOOGL).
Trade: Over $1,069, consider shorting Jan (1/5) $1040/1020 Bull Put Credit Spread (10 DTE) for a limit of $1.15/share (closing mid-point but spready).
Technical Setup: Breakout from bullish consolidation daily and weekly.
Option Strategy: Bull Put Credit Spread (BPS). Note: If Nasdaq strengthens, this is a swing long candidate also.
Stop Loss: $1043.
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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NOTE: Master Trader will show opening and closing prices of all stock and option trades. We do not recommend proper share size for your particular trading style, risk tolerance, or account balance. We urge you to calculate your own share size based on your individualized risk parameters, Trading Plan, and familiarity with the proposed trade strategy and risk.
NOTE: Master Trader and its representatives might have existing positions in these and other trade recommendations before or after suggested herein. Additionally, we often manage them differently for internal purposes based on different risk parameters than noted herein.
