As the market continues to stay volatile, there are still some great trading opportunities out there, but you have to pick your spots!. I know many are struggling in these market conditions, but this is my 5th Bullseye pick in a row that’s hit the target! Here’s how the most recent one played out last week, for a 50% gain in 3 days!:
PYPL $3 entry. $4.80 exit. 50% in 3 days!
Here’s How it looked before I took off the trade!
Don’t miss my next favorite setup coming Monday morning! Click Here!
Every Monday morning, I send out my best trade idea for the week before the market opens to Bullseye subscribers. After analyzing the market the week before and running through charts over the weekend, this is my favorite and most primo setup for the week.
Don’t miss my next favorite setup coming Monday morning! Click Here!
I believe that if you can manage one single trade a week and do it well, you can filter out all of the noise happening with the market overall.
There’s a lot of thought that goes into the Bullseye trade of the week. I’m looking to find good trade ideas that are outliers in the market.
Get Bullseye delivered to your e-mail Monday Morning! Don’t miss next week’s best setup! Click Here
Here was my reasoning for the Bullseye Pick, which was sent to subscribers Tuesday, May 31st (Due to Monday’s public holiday), in the pre-market.
PYPL – Bullseye Pick Of The Week
I think we have seen the low for the market, at least for the short-term.
From here, I think things will still be choppy, but the trend will be higher, maybe for most of the month of June even?
That being said, I want to start to take trades on beaten-down tech stocks again.
Almost everything I have looked at bounced very hard last week.
While I want to be a buyer on a dip if it comes this week, I don’t want to chase at the upper end of the range.
Instead, I will sit tight and wait for the next selloff to start building some new positions.
So…this week, I am going with PYPL which used to be a tech darling trading over $300.
Today, it’s being offered at $85 and I think it is a great candidate to move higher with this market while also having limited downside.
PayPal Holdings, Inc. (PYPL)
The “limited downside” part is what I am trying to focus on this week.
Even though I think the market is going to rally over the next few weeks, I am very prepared to be wrong and I want to limit losses, especially after the great run of Bullseye ideas I have had recently.
I think a stop is pretty clear under $77 for PYPL and I will respect that level if it comes.
I know I am looking to buy a stock that has already had a decent move so I want to save some room to buy more if PYPL dips soon.
I would really like to add to this position if PYPL trades in the $81-82 range, so I am saving half of my trade size to enter in that area if it comes in the next few days.
If the trade goes in my favor, I am hoping to sell near $88 as my first target and $92 as the 2nd target.
My Trade Details:
- Buy PYPL Jun 10 2022 $85 Call near $3.00
- Add to position near $81-$82
- Stop on trade under $77
- Target 1 : $88
- Target 2 : $92
Here’s how Those Options played out as of Friday: Target 1 was hit on Thursday!
PYPL $3 entry. $4.80 exit. 50% in 3 days!
Here’s How it looked before I took off the trade!
If you’re struggling to find trade ideas, become a part of BULLSEYE TRADES, and receive my favorite trade of the week straight to your inbox every Monday! CLICK HERE NOW TO SUBSCRIBE!
If you want access to a more comprehensive trading strategy and see what I am doing every single day, as well as live training sessions daily, subscribe to Total Alpha. This is my education community with access to my portfolio. Click Here to become a part of the team!
