SIX getting weaker after touching its resistance level near top of the upward channel. We think it will reverse from here & it would decline breaking the channel formation. We think it will decline to $49 area. For trade we would consider $60 March-17 Puts @ $5.60
You can check our detailed analysis on SIX in the trading room/ Executive summary link here- screencast.com/t/7fEC4BuaGpng Time Span:0:35:30" Trade Status: Pending
Comment
⋅
You can also check our detailed analysis on SIX in the trading room/ Executive summary link here- youtube.com/watch?v=FnM0RFUJHsc Time Span: 4:15"
Comment
⋅
Relevant Updates: January 31st- Holding to its down trend with a slight decline today. A break below MA 50 will clear the way for further decline. January 30th- Nice downward move hitting entry criteria. $55 March puts traded for $0.80, Looking very bearish. January 26th- Seems rolling over, it had a nice decline intraday but closed at the middle of the range. It may hit entry shortly. January 23rd- Not looking very good, it's showing upward momentum. January 19th- Alerted last night also, Money flow breaking down for a consideration of March $60 Puts or June $60 January 12th- Seems topping out, we still like it as short January 10th- although this stopped out last week we still feel there is a potential drop coming to this. Twiggs Money Flow has dropped significantly over the last few days. Watching for a break below its 20 day SMA at $59.80 as a new possible entry zone criteria.
Comment
⋅
February 7th- Declined 1.19% & closed below EMA lines near opening price. Seems rolling over. Wait & see.
February 17th- continues to hold below $62.00, keeping on list for now.
February 21st- Declined a bit from the upper resistance. Wait & see situation.
February 22nd- Bounced off the upper resistance, and declined sharp breaking MA lines. Looking very good as short now.