fonzotrader
Short

Decent pattern, nice possible gains

BATS:UFCS   UNITED FIRE GROUP INC
42 0 0
Price entry: $24.76
Price target $21.43
Stop-loss: $27.08

This price action is much more choppy than that of $TWTC but it still shows a pretty clear Head and Shoulders Pattern. This pattern has already been confirmed due to a bounce in January and then all the following down days. Both the 50 and 200 SMA have formed a death cross which gives a bearish signal. I think this downwards run is not over yet, there is still profit to be made. I do not expect the price to bounce back up to $27.08 so I placed my stop-loss there, just over the 50% fib line. My price target is just under the 76.4% fib line at $21.43. The R/R is pretty small but I see it as the best option. OVerall I think this stock has potential to tank!
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