Sears Holding's SHLD , which on Monday Oct.15,2018
declared Chapter 11 Bankruptcy,
took traders on a wild ride today.
The stock rose 113% intra-day to near .70, before falling 43 %
to close at .40, still up 29 % today.
There are some die hard believers in Sears
who are thinking that the brand name is so strong in the 125 year old retailer,
that it will somehow...
Sears, SHLD, is reportedly preparing to file for bankruptcy
reportedly unable to make a debt payment due this week.
The stock last traded at .5851 cents
For those too young to remember, the 100 year old retailer
was the Amazon.com,of the 20th century.
It's retail stores anchored malls throughout the USA
and with it's catalogue, gave consumer the opportunity...
If we push down to complete the C leg @0.5885 of the bigger cypher pattern in my opinion we're likely to see the retracement from the big downtrend and on our way up we should complete the smaller scalping opportunity for the quick short before we continue going up and maybe completing the second cypher.
Sears is almost bankrupt but has just struck a deal with AMZN. There is a double bottom with a lot of volume coming in. This is a classic set up for me, let see if it works in a most likely to go bankrupt company.
Just like many of the Texas Shale oil companies during the oil downturn with massive debt, Sears is what we're calling "Walking Dead" of the retail industry. The recent rally of price has likely come from many of the shorts closing their positions at large profits, and the huge drop has come from professional and retail traders alike identifying an opportunity to...
SHLD (Sears Holdings) has been in a downtrend for a long time. It recently spiked on positive consumer data, but that won't last.
Wait for it to confirm this rejection by moving below $11. This ensures that it doesn't complete a flag pattern, breaking resistance.
Using April 21st PUT options could net a nice profit. There's currently 4,883 open...