In late June, I identified a bearish divergence and targeted the mid to low 50's. This clearly didn't come together, and quickly became a broken trade for a loss -- but what has remained is the same bearish divergence -- RSI making lower highs while the stock makes higher highs. And now we could be forming a rounded top. With earnings around the corner (sep 1?) I could see this consolidating and making it's move post earnings, but it seems to be very tired here. I'm taking another shot going short with a small position on the sep 80 puts; still targeting that 50 area.
Note
increasing position this mornin - adding to the sep 80 and also adding oct 60s. the high/low reversal today near previous highs and the continued bearish divergence suggest to me this may be getting closer to breaking - maybe even before earnings.Note
the 4H chart here shows a possible bearish rising wedge as well. one could adjust the uptrend line to make it less aggressive - or accept this trendline has broken. either way there is a lot not to like here. 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.