GFF is in the weak Realestate sector, which is rolling over. It seems running within a channel or a descending triangle, and seems heading down. Overall it looks a decent short technically.
* Trade Criteria * Date first found- March 9, 2017 Pattern/Why- Descending triangle breakdown Entry Target Criteria- Break of $24 Exit Target Criteria- $21.20 Stop Loss Criteria- $25.13
Please check back for Trade updates. (Note: Trade update is little delayed here.)
Trade active
March 10th - Adjusted upward and hit entry price. Now wait and see.
Comment
March 14th - Showing some weakness after adjusting to EMA lines, looking good.
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March 21st- we would consider $25 April Puts 0.80 / July $1.60
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March 22nd- Possible downward H&S
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April 3rd - Strong downward move today and closed at the bottom of the range. Looking good as short. $25 April Puts traded as high as $1.60, 100% up from entry, and $25 July Puts traded as high as $2.50
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April 11th - Downtrend continued as it holds below EMA lines. Looking good as short. $25 April Puts traded as high as $2, 150% up from entry, and $25 July Puts traded as high as $2.45
Comment
April 12th- updating our stop loss criteria to $24.13
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