Entered short at 88 with initial stop loss @ 92.50.
Near term target of 81.50 (38.2% fib retracemnt of the major trend up from Mar 2020's covid low to it's top in Nov 2021. Should stock continues lower, then possibly next targrt @ 71 (50% fib retracement as well at pre-covid high in Feb 2020)
Disclaimer: This is just my own analysis and opinion for discussion and is NOT a trade advice. Please your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you.
Near term target of 81.50 (38.2% fib retracemnt of the major trend up from Mar 2020's covid low to it's top in Nov 2021. Should stock continues lower, then possibly next targrt @ 71 (50% fib retracement as well at pre-covid high in Feb 2020)
Disclaimer: This is just my own analysis and opinion for discussion and is NOT a trade advice. Please your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you.
Comment:
however the overall market is not bearish at the moment, I will not be too bold on shorts right now.
it has formed a wedge since my last posting (link above). if it breaks down this wedge then yes, the downtrend is still intact, especially if it continues to stay below the 50 day moving average.