Bearish potential detected for EMR

Feb 15

Entry conditions:
(i) lower share price for EMR along with swing of DMI indicator towards bearishness and RSI downwards, and
(ii) observing market reaction around the share price of $6.34 (prior support from 06-Feb).

Depending on risk tolerance, the stop loss for the trade would be:
(i) above the declining yearly VWAP on the daily chart (currently $6.94), or
(ii) above the recent potential resistance level from the open of 21st January ($7.22).

Feb 21

Order cancelled

UPDATE (week ending 20-Feb): Poor bearish market reaction observed on Wednesday regarding the prior support from 06-Feb (i.e.: $6.34 level), with no strength in the bearish move as per prescribed entry conditions. Therefore, trade abandoned - let's look for other opportunities.