2waytrading

High wave bearish deliberation

NASDAQ:SOHU   Sohu.com Limited
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Profit taking hit the stock today after it gaped up and pushed higher. Close to $50 which would have market its first time it moves 50 area since met a serious profit takers helped by short sellers. This bearish pattern needs confirmation. Do not expect that much pull back but at 45 area will be a great buying opportunity. If you decide to short this make your stop loss at recent swing high 49.70 with target price $45

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