How To Anticipate Pin Action: NET

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Pin Action occurs when a stock is leapfrogs resistance and is magnetized to a higher (or lower) strike.

A daily NET below shows how it exploded above its 50 day line on April 13.

It walked off that short term overbought condition with a pullback to its 20 day moving average in front of last Friday’s weekly option expiration.

It rallied off its 20 day on Thursday but tailed off in sympathy with the entire market on  the Biden capital gains tax news

However, NET ignited again from the get-go on Friday’s weekly Opex.

A Gap & Go Opening Range Breakout signaled a trend day to the top side.

On the Hit & Run Private Twitter Feed we offered that clearing 80 opened the door for a run toward 85.

In sum, the Rule of Multiple Techniques—in this case the Opening Range Breakout and Pin Action above the 80 strike—- provided a great ‘Swish’ Hit & Run trade.

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