MobertsGR

RSI Bearish Pennant

Short
TSX:RSI   ROGERS SUGAR INC
After a bearish pennant formed just a few weeks ago, another has appeared to form as well. Trendlines aren’t the strongest but that’s mostly due to my lack of experience. Last few days it’s had some very long upper shadows on candles. The stock has also dropped after earnings on the last 2 reports and will post earnings after the trading bell today (feb 10). This scenario suggests that a short would be a favourable trade here.

Comments

Nice catch bud, ur last TA made me over $10K so i'm definitely gonna take this trade! Longs run for cover cuz we are shorting this fucker right to 0. #shortlife
+1 Reply
PF2 shaquilleab
@shaquilleab, oups
+1 Reply
PF2 shaquilleab
@shaquilleab, TA on point, tough luck on earnings.
+1 Reply
MobertsGR shaquilleab
Haha yea exactly why we wait for that to pass before making moves.
Reply
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