Gnome
Short

AMX Head and Shoulders 2:1 Short opportunity

NYSE:AMX   AMERICA MOVIL SAB DE CV
Pros:
- Clear head and shoulders
- High vertical distance
- Nice volume contractions
- Volatile stock
- Average short interest (1.77%)
- Rather close stop

Cons:
- Right shoulder is slightly higher
- No clear longterm trend

As you can see my suggested trade setup gives a risk reward of 2:1. If the stock behaves nice and breaks down, i think this is worth a position. Let me know what you think!

Cheers
Gnome
2 years ago
Update: Closed out second half of position for a little more than 10% profit
Reply
Great, an ideal and correctly labeled H&S.
Nice move ;)
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