JCOM: if this thing rallies back to the 50 dma load up on the short side. This stock's breakdown today on that kind of volume leaves it in no man's land. If this stock bounces and creates a good short a fall below 200 dma seems logical.
MFLX: High volume reversal on March 8th led to current decline and now a breakdown below 50 dma creates a good short.
TRMB: second hard down day on big volume. Once again, a rally to 50 dma opens up a great short with support looking to come in around 20-25 area.
PRZ: nasty high volume reversal after its sloppy two month breakout four days ago. This amount of volume and that engulfing candle to the downside along with the sloppy move up makes PRZ an excellent short.
Also, I have exited all of my steel now. Selling the remaining TS. Looking at all former leaders SCHN MT STLD AKS TS TXI all breaking down it is obvious the run in steel is over.
ALOHA
1 comment:
TOPT, to me, appears to be forming a long strong base. This base could lead to a cup with handle. It can not be "classified" as a double bottom because January low is lower than the March low. It would have to be the other way around. But anyways, so far, this stock is shaping a great base and with the fundamentals of this company a move to 21.75 on volume would be a great entry.
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