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iAnneTrader
Nov 18, 2014 11:04 AM

DNR gaps down Short

Description

For a long-term trade DRN is not a great shorting stock. It closed yesterday at $10.01 so there is not to much further for it to fall. But with the gap down on higher volume a quick short could be on the cards.

Price has just managed to close below the 2001 pivot low of $10.20, but remains marginally above the $10 round number and I would've liked to have seen a more bearish bar.

If there is further weakness today this could well trigger a position. The next support level is $5.59 (2008 pivot low) so there is room for a downward move, at least in the near-term.
Comments
isaac312
I guess TA does not generating investment Ideas; will wipe out peoples account seeing this.
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