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Trading_Padawan
Dec 20, 2021 6:36 AM

Breaking of a 10 Year Trend Short

MarketAxess Holdings, Inc.NASDAQ

Description

MKTX broke its massive bull run trendline that started since 2009. A huge head and shoulders formation in the weekly chart (May 2020 - Sep 2021) was broken in September, signaling a reversal and weakness in the stock. MKTX now has a pullback to the neckline at $410, offering another opportunity to short with an attractive risk/reward.

Stop loss at neckline @ $430
Target @ ~$300
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