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KristianB12
Feb 9, 2018 12:35 AM

Short on AEO Short

American Eagle Outfitters, Inc.NYSE

Description

Going purely off the chart pattern, and the fact that the market is having a large pullback, I think it's a fairly risk free short. Stop is just above resistance where it could break out, limit is just above the bottom.

Comment your ideas below.
Comments
schery0581
are you still short?
KristianB12
@schery0581, I ended up never getting in this trade as I wasn't aware with the fees associated with shorting from my broker. But that call ended up being way off, I'm suprised, especially with the market going down, I thought AEO would keep its downward momentum displayed when this was published.
jeffyanzo
I fully agree here, although my short target is 12.51-13.30 zone rather than all the way back down to 9.21. Risk reward is on point with numbers. Let's see how it pans out!
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