TLYS - Support breakdown short from $8.68 to $7.23 & lower

Mar 17, 2017

TLYS seems getting ready to breakdown its strong support label. It has broken below all the moving averages & if it breaks below $8.68 support label it will be on a free fall zone.

* Trade Criteria *
Date first found- March 16, 2017
Pattern/Why- Support breakdown short
Entry Target Criteria- Break of $8.68
Exit Target Criteria- $7.23 & lower
Stop Loss Criteria- $9.63

Please check back for Trade updates. (Note: Trade update is little delayed here.)

Mar 29, 2017

Trade active

March 21st- broke down into our entry zone criteria and is looking good. We like July $9.30 Puts, for $1.25

Mar 29, 2017

Note

March 28th- has rallied right into resistance and held below. Starting to look more bullish so we would consider tightening our stop loss criteria to $9.13