Idea came up by reading this article:
By applying screening with Finviz and proposed criterias, you end up with a dozen stocks.
I picked one of them, ROVI was among other candidates (I also chose MEMP). ROVI renewed a license agreement with AT&T .
Article focuses on and gives some hints:
The best strategy I have found for shorting stocks is to look for companies that have had a significant run-up on heavy and then short them when they are extremely overbought. (...) should also spike significantly higher on the upward move.
Fibo shows key levels: and 0.382. Resistance around 16.00 level. Expectation is a retracement from C, until the is reached (first TP), second TP could be at a deeper layer at 0.618. The first A/B/C forms a perfect triangle with B right in the middle.