Well this is a pretty straight forward trade as all, what I'm looking is to short down to the 13.00 area of support. Reason is the lack of bullish momentum during the consolidation period that the stock found itself in the past couple of weeks. Looks more as shorts taking their profits. And this previous week's candle shows that bears are potentially gearing up to take the stock lower to the support area.
Stop:
The Trade:
Cheers, happy trading folks! =)
Note: I will not be able to update whether I enter the trade or not due to not being able to log into T.V. at work. So if your looking for a signal on whether to enter short or not this is the wrong post to do so from.
Stop:
- Slightly above last week's high
The Trade:
- Will be monitoring Level II's at the open on Monday to see whether bear's are in fact ready to take it lower. If not then trade is canceled.
- Stop's will be moved to break even if price goes down to the 13.50-14.00 area.
Cheers, happy trading folks! =)
Note: I will not be able to update whether I enter the trade or not due to not being able to log into T.V. at work. So if your looking for a signal on whether to enter short or not this is the wrong post to do so from.