CELH – Your Bullseye Pick Of The Week - Bullseye Pick of the Week
The options were up over 400%
Here’s how I traded it:
Here was my reasoning:
One of the most bullish stocks I see right now is CELH, and that is my Bullseye idea for this week.
CELH is an earnings winner and the stock rallied over 25% from the lows just a couple of weeks ago. It is taking a little breather right now but I expect it to continue to move up soon.
The stock is trading above the 200-day, 13-day, and is sitting right at the 5-day moving averages which are all extremely bullish.
I would like to buy call options on this stock all the way down to $92. That being said, I will only be starting with a half-sized position today if I get filled on my order. I want to save some ammo to buy more if the stock goes a little lower from here.
My stop loss will be a closing price below $85. That has been a strong support level recently and if that fails, I will get out with a loss on the trade.
If things work out, I expect to see CELH break over $100. My two upside targets are $102 and then $108.