DerekD_

$AIT - Professional Bull Trap

Short
DerekD_ Updated   
NYSE:AIT   Applied Industrial Technologies, Inc
Triple top formation but seeing as we're $.05 away from ATH, quick scalp trade to the upside wouldn't hurt with proper risk management. Somewhat of a reminder of $AAPL's chart back in Feb (9th). Big dip, before new ATH, then another dip back down to 200 EMA . Confirmation of a breakout would be white EMA (55, low) above 180 WMA - regardless of momentum. Seeing as momentum is definitely on bulls side though, I'd like to keep (put/short) entry @ or around $76.70 without keeping a tight stop. Stop preferably above 314% of $78.60 & either avg up with price or add to position if price clearly breaks $74.20 (red 50% fib). Bull trap starts AFTER new ATH is reached. Until then, don't get caught in a temporary bear trap
Comment:
This is lining up suuuppppa nice
Comment:
Just went through breakout / breakdown watchlist & spent 20 min on a chart I already posted, smh. Welp

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