Reason: Stock will be in sideways due to no further upside move as current upmove has already exhausted. Simultaneously, Short selling wont take place soon as stock has to correct in time manner.
Timeframe : No progress at least till August 2016. Range of $50-$56
Timeframe : No progress at least till August 2016. Range of $50-$56
Trade closed: target reached:
Profit booked with majority of position. Very small quantity kept on table for further downside move.
Trade closed: target reached:
Remaining short side position closed and booked full profit.