Sorry for the delay. The reason I went short here is because :
1) Multi months double top , the stock couldn't reach the all time high of 2011
2) The stock closed below the LOW 10 EMA for 3 month in row. sign of potential decline.
I placed a hard stop @ $63. However here the risk management technique i'm using for this trade :
- If stock closes is positive 2 months in a row , will cover up to 30 % of the position,
- if stock closes is positive 3 months in a row, will cover 100% of position.
I have no particular target for this one, I will only apply the risk management rule above. :)