SLCA - Upward channel breakdown Short trade, target $30

SLCA is running in a long upward channel. However it seems getting weak & it has strong moneyflow divergence.

Trade Criteria
Entry Target Criteria- Speculative entry at current price or Break of $49.93
Exit Target Criteria- $31
Stop Loss Criteria- N/A

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Time Span- "
Trade Status: watchlist

Comment:

Relevant Updates:
February 10th- Traded upward, but closed very bearish at the bottom of the range. Putting a stoploss at $60.07 February 9th- Traded upward & tagged to EMA 9, still looking good as short.

February 8th- Declined & hit new entry price. But went up & closed higher. Wait & see situation
February 7th- seems to be rolling over. A break below $55.00 could be a new entry single. We would consider March $55.00 Puts currently $3.50

January 30th- seems like this could be looking more bearish again. Has never hit our entry zone criteria but something we will keep our eye on.

Comment:

February 22, 2017 (AMC)- Reported $0.09 loss for the quarter, but it was $0.1 better than forecast of $0.10 loss, and revenue was a little better as well.

February 23rd- In reaction to the earnings last evening share price dropped huge 10.37% today, and $55 March-17 puts traded as high as $3.40

Comment:

February 28th- Declined huge 3.91% today & closed at the bottom of the range. $55 March-17 puts traded as high as $5.10, that is 45% higher from entry price.

March 8th - Declined huge 8.29% today, and closed at the bottom of the range. Very good trade so far. $55 March-17 puts traded as high as $7.4, that is 110% higher from entry price. And June $55 puts up from $5.90 to $8.80. We may consider taking some profit from March Puts.

Trade closed: target reached:

March 14th - Wow! Traded down sharp 8.4% & made a lower low. Very good trade so far. $55 March-17 puts last traded for $11.61, that is 2.31% higher from entry price. And June $55 puts last traded for $12.30, 108% higher from entry. We would consider taking some profit here.