TradingView
autemox
Jun 6, 2018 11:23 PM

EL short: mean reversion to monthly trendline Short

Estee Lauder Companies, Inc. (The)NYSE

Description

EL has broken out of monthly trendline and formed a new steeper trendline. The steeper trendline has broken downward and monthly trendline will be re-tested.

Comment

Trade should be taken tomorrow morning if new lows are made vs yesterday.

Comment

No new low made / trade cancelled for now

Comment

glad we didn't take that trade, new ATH today

Comment

6/18 daily bear div completed and weekly bear div on progress. Should have seen that 6/18 bear div it could have been a short opportunity. Now we should watch for a H&S forming with neckline around 147.6, could be a short opportunity.
More