Motorola Solutions (MSI) shares traded to a fresh 52-week and multi-year high of $70.98 on Oct. 22, and short-term momentum could carry MSI toward $75-$80 if $70 holds as near-term support. Additional support is at $69-68, followed by $67 and the 50-day moving average, while multi-year resistance doesn’t occur until $72.50.

The 15-year monthly chart for Motorola also shows a bullish setup, as the 50- and 200-day moving averages are in the process of forming a “golden cross.” A golden cross occurs when the 50-day moving average crosses above the 200-day moving average.

Motorola is expected to release earnings the first week of November. Wall Street is expecting a profit of $0.73 a share on revenue north of $1.4 billion. The high estimate for Motorola Solutions is at $0.80 a share, while the low-ball number is at $0.66 a share.

During the past four quarters, Motorola has beaten estimates by $0.14, $0.13 (twice) and $0.21, respectively. More importantly, revenues have also topped expectations every quarter over the past year.

I recommend buying the Motorola November 75 calls (MSI151120C00075000) at current levels around $0.70.

I do not have a stop loss in place, but my exit target for the Motorola calls is an easy 100% gain at $1.40.

A quick update on the Kohl’s (KSS) puts I recommended recently,  I continue to hold those, and my exit target remains $1.90.

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