I'm bearish on the sector in general as well as the company after some interesting research from Hedgeye. I think the recent rally was a gift from the market gods, and am simply looking to fire my shots.
RSI momentum is negative while the share price failed to break above 50% fib retracement level. Possible 50 day ma acting as over head resistance as well.
I'm buying a 12month put now and will add to it if stock breaks below 81.00.
Trade closed: stop reached:
I got mauled by this kitty! Possible H&S bottoming pattern on the weekly that may have ripped me.