FRAN is forming a potential H&S in weekly frame, and in the daily frame it has broken down key support area. We think it has huge downside potential, and it can go down to $10 area.
* Trade Criteria * Date first found- April 5, 2017 Pattern/Why- H&S formation in weekly frame Entry Target Criteria- Break of $13.93 or rally back up to $14.93 Exit Target Criteria- $10.17 Stop Loss Criteria- $15.75
Please check back for Trade updates. (Note: Trade update is little delayed here.)
Trade active
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April 6th - traded into its 5 day EMA and hit our higher risk entry zone criteria.
Comment
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April 11th- Went up & closed above EMA lines, but holding below stop loss criteria. Now wait & see.