Description
⋅ PTON
In healthy downtend.
Price in downtrend with 50ema acting as dynamic resistance.
Stochastic is over-bought
Last two times price has pulled back to 50ema and stochastic in over-bought territory, price has made move down. This time it won’t be any different.
Entering trade short
Entry: 27.70
Stop loss: 33.09
Target: 20.38, +26.43%, 1.36 RR ratio