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andrew.berg
Jun 6, 2014 1:29 PM

FIVE Head&Shoulders, approached to neckline at $35 Short

Five Below, Inc.NASDAQ

Description

FIVE was sold off from 55s highs and bounced from important support at $35 and put another lower high at $44 which is the top of right shoulder.
Now price is below key moving averages that are curling down, sellers keeping preassure on price.
Break down of neckline at $35 could lead to further drop down.

Stop above 200 EMA with target at IPO price at $25 makes this trade attractive from R/R point of view.
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