SWBI Looking to break a support area. I will be looking to short this one on a break below the $13 area with a stop just above the blue support / resistance area. Next logical support area is down in the high $8.xx range which represents over a 30% decline. See notes on Chart. Lots of reasons this stock could tumble, fundamentals include slowing EPS and sales along with the ever-present regulatory issues. Ideas, not investing / trading advice. If you take a trade like this, make it your own. This idea inspired by a post from Yogigolf here on TradingView.
Trade active
Short 1/3 size position @ 12.87 - Stop just above May 2022 support / resistance zone.Trade closed: stop reached
Ran a very tight leash on this one, gave it some room yesterday but it's just not doing what I want so closed @ 13.31 for small loss of .44 a share or 3.4%. Still on watch list.
Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.
I may or may not take any trade published and I am under no obligation to post any action or update to any idea.
I may or may not take any trade published and I am under no obligation to post any action or update to any idea.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.
I may or may not take any trade published and I am under no obligation to post any action or update to any idea.
I may or may not take any trade published and I am under no obligation to post any action or update to any idea.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.