munyaelliott

SUBURBAN PROPANE PARTNERS L.P (SPH) 4-HOUR CHART SHORT

Short
NYSE:SPH   Suburban Propane Partners, L.P
The share price for this stock has been moving in a downtrend, as evidenced by the descending trendline. Prices have already rejected the 22.95 price level, and I expect price to tumble down to the zone represented by prices between the 21.90 and 21.50 level. This stock has been in a downtrend since it hit all-time highs of 58.90, around 26 January 2011. The relative strength indicator and the stochastic oscillator are both overbought and are moving down. This is extra confirmation for short positions.

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