timwest
Short

GLNCF Glencore PLC - Daily - Sell Short Here - Max Resistance

OTC:GLCNF   GLENCORE PLC
767 5 14
Rally back to high volume resistance at 2.05.

Also, 2.05 is the price level with the most TIME as well and is nearly a 100% rally from the low at the end of September.

The CCI (11) is overbought, of course, since it just rallied 9 days from 1.07 to 2.076, a full 1.00 move.

Risk 10% to 2.25
Target -20% to -25% to 1.60-1.50

Tim
10/9/2015 10:15AM EST
Comment: Close to target at the open today!
Comment: 1.73 low today, target 1.60-1.50
Trade closed manually: Low of trade so far was 1.6440 = not too far from the target at 1.60. Big rebound near $2.00 is creating great trading back and forth across the range. (I cannot sell short stocks under $5/sh, so I can't participate). Do you own due diligence. I think it is time to walk away from this trade. Hope it has been a winner for you.
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Should continue down I think.
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If you don't take some money off the table when you are up 10% on a trade, then think about it. You can trade around the core position and make a lot more money than just sitting on your position.
+1 Reply
1.73 low, targeting 1.60
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GLNCF in the death spiral. The short squeeze ran a long way and rolled over now. Imagine the buyers who got in near $1.00 and then made 100% in a week! Wow. That is insanity.
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It's ok
I follow You
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