MNST - Rising wedge breakdown short from $42.97 to $40.43
Updated
MNST broke-down from a rising wedge formation, retested the resistance & seems rolling over nicely holding below EMA lines. Moneyflow declined to the negative side. We think it will be a good short.
Trade Criteria
Entry Target Criteria- Break of $42.97
Exit Target Criteria- $40.43
Stop Loss Criteria- $44.57
Trade Status: Pending
(Note: Trade update is delayed here.)
Trade Criteria
Entry Target Criteria- Break of $42.97
Exit Target Criteria- $40.43
Stop Loss Criteria- $44.57
Trade Status: Pending
(Note: Trade update is delayed here.)
Trade active
Relevant Updates:January 27th- Declined further, and moneyflow going down sharp. Looking very good as short. Updating stoploss to $43.57
January 26th- Made a lower low & strong bearish close. Looking good as short. $45 March-17 puts traded as high as $3.60
January 24th- Declined & traded into opening price, however closed at the top of the range.
January 19th- Looking good! Solid decline. March $45 Puts look good. Currently $3.10/$3.30
January 18th- Showing strong downward momentum, but yet to hit entry price. Wait & see situation.
January 13th- Retested MA50 resistance, waiting for a breakdown.
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