myfye13
Short

Reverse Cup & Handle Pattern on Camping World

NYSE:CWH   CAMPING WORLD HOLDINGS INC
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4
88 2
See above. Could see $15.50 if this wedge breaks down (handle of the upside-down cup).

Exit position with NYSE:CWH close above $21.30.

PT1 - $18.10

PT2 - $16.00 - $15.50
Hi, do you have an update on this?
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myfye13 yinnyang
@yinnyang, I would say this is a perfect example a bull and bear trap. On 9/12 when CWH broke the trend line it looked as though the downward move would continue, however the doji the next day indicated there was not enough selling pressure and the bulls took advantage. Today looks to be a retrace back to the top of the previous trend line. I wouldn't short this stock until it closes below $19. If it rebounds tomorrow on high volume I wouldn't go long until the stock closes above $22.60. If this happens I would set my target at near $25.

Hope this helps!
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