n.c_trader
Short

UP TREND FINISHED; now is time to go short!!

NYSE:PAY   VERIFONE SYSTEMS INC
73 5 1
See chart
so far, so good, le's see if it continue going down
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Yes, i agree that it is to early to say that the uptrend is finished, but with a main trend line broken and a descending triangle pattern, i believe it will drop.

Probably it will retest the blue triangle again before it drop.

If i see see that price can't break the blue triangle aboce 37$, and if i see a bearish candle with big volume i will defetly go short.

At this moment this only a chart in my watchlist.

Nice trades for everyone, chers from Portugal
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You gotta look at longer time frames like monthly and weekly. Notice how we've had huge progression upward for a long time. That momentum takes time to offset. When the weekly and monthly charts setup in distribution, then you know you when its ready to drop.
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Progression says we need to see more dissy. A lot of volume to get through between 32/34. Your premise is probably good, but I think it may be way early.
Reply
Volume on the breakdown was only average volume.. It appears it is catching support at 100 day MA. May see a short pull back, but I would not expect a 10% drop.
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