This broke support around $207 and continued down below $200. New support came in @ $196-198.
If it can't get thru yesterdays $207 it looks lower. We took off half @ $199.12. Using stop on balance @ $207.25 and if not triggered will try to buy it back near 194-196...OZ
a close under $207.64 will break this lender to the auto industry and take it back towards $180.
Risk is well defined as a close over $220 so a risk/reward of 3:1 seems an appropriate to me.
Options are thin and expensive but limiting size or using a bear spread can be employed here...OZ
The falling trendline in this triangle has been touched numerous times and it all got rejected. I will be looking to see if it happens one more time and I will be entering for a short position for a target of $161 or $140.