During 2013 and into this year, we have played Seagate (STX) using different options trading strategies and had some decent success; we recently took a trade out to July (50 call strike). The chart setup was there when we entered … but then it stalled out.
On May 27 it recovered and offered up some nice action: It finally attacked the 100 ma and closed right on it with good turnover. STX may find some resistance there, but there is some upside towards the recent peak of 58. These turnarounds take time, but when the indicators flip the switch (as they did last week), it’s not long before price catches up. You can see multiple signals on the chart below.
