DOW - Short Opportunity

NYSE:DOW   Dow Inc
A double top pattern was formed and the stock crashed and now price has retraced back to the resistance level , giving us another opportunity to ride the waves down. Near-term short signal has also appeared. Price failed to break above 200 MA, showing bearish sentiments.

Entry: 49.77
Stop Loss: 53.6
Take-Profit Target: 43.95
Trade closed manually:
Closed at 49.6 as there is strong downward resistance. Will look to reenter if another bearish signal appear.
Reentered position at 49.4

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.