I've been following MOO as of late as I'm currently short DE and waiting on an entry for CAT short as well; I've noticed that it has essentially been forming a Wyckoff-style distribution pattern, and is one of the few sectors in this market that isn't brutally beaten down at this point. I'm currently expecting a countertrend rally upwards in this name, but I fully expect the rally to be faded and for this sector to enter a brutal markdown phase that will take it to pre-pandemic levels well before 2023. The question in my eyes is when and where will the rally be faded? My current ideal entry short on this name rests around 92/share
It's nearing the point where I want to get short on this name. I believe the right time to short will present itself late next week, but I am prepared for any scenario. This will likely be an incredible short, and I consider it to be incredibly low-risk if you catch it at the right price.