The price here has focused into the obvious descending triangle for almost about a year now!
It is not obvious if it will hold or not, but the current company health especially regarding profitability along with price action point towards a downward move, especially after the bullish momentum over the last couple of days.
This play is being taken to play on the chance that the stock continues to retrace some of its gains from the past week, ideally before the next earnings report.
Let's see how it goes down; it should be a very short-term trade.
Stop @ 60.13
Target @ 57.09
It is not obvious if it will hold or not, but the current company health especially regarding profitability along with price action point towards a downward move, especially after the bullish momentum over the last couple of days.
This play is being taken to play on the chance that the stock continues to retrace some of its gains from the past week, ideally before the next earnings report.
Let's see how it goes down; it should be a very short-term trade.
Stop @ 60.13
Target @ 57.09
Trade closed: stop reached:
Stopped out quickly right before earnings; I wonder what else is in store for the stock. On to the next one.
