shomikghosh2
Short

P Testing 50 Day Support

BATS:P   PANDORA MEDIA INC
47 1 0
I entered P Jan 28 Puts today with the stock at $28.4, my target was the 50-day at 27.4, im still holding this short as the volume is large on this selloff, 8 ema looks to be closing under the 21 ema, macd is below the signal and RSI is dropping, i think in the next couple days on market weakness stops should get hit and this should fall past the 50-day ma
BreakoutTrader
2 years ago
It very well could. Interestingly enough Bulkowski discovered if volume was above average, during downward breaks the price move is often less and chance of reversal or failure is higher. Pandora seems to change direction as well when RSI gets close to 40.
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