GRUB was on our watch list from a long time. It had an incredible really, but now its seems getting some downward momentum. It's also breaking down from an upward channel formation. We think it has strong downside potential from current level.
To play this we would consider June $95.00 Puts
* Trade Criteria * Date First Found- March 28, 2018 Pattern/Why- Inverse Fallen angel. Upward channel breakdown Momentum short Entry Criteria- Current price ($99.90) Exit Criteria- 1st Target $83.13, 2nd Target- Momentum Stop Loss Criteria- $110.33 Indicator Notes- Twiggs money flow divergence Special Note- Lot of insider selling in some heady percentages. June $95.00 Puts looking good.
Please check back for Trade updates. (Note: Trade update is little delayed here.)