Short

$SHOP in a Very Vulnerable Position

Updated

I would favor a short on SHOP. It could possibly be played long for a bounce back to trend line and maybe even to the 10 / 20 EMAs. It is up pre-market but I'll be watching this for a short set-up if it losses the horizontal support area it tagged yesterday. I may even go long for a day or swing trade if it can get over the downtrend line and then look for a reversal to short at the 10 / 20 EMA. All TBD. Ideas, not investing / trading advice.

Trade active

I am now short @ 1081.00 as it rallied this morning and is now pulling back. Stop very tight, less than 1/2%. It either works or back on the watch list.

Trade closed manually

Closed this this morning before round tripping @ 1069.73. I'll keep an eye on this for a short set-up again as I think it's a dead cat bounce. TBD.

Note

I hope this helped someone capitalize on this trade. It was good for over 100 points just today! I made a little. Should have gotten back short today. This idea was / is a big winner. But, the biggest chunk went w/o me.

jaxdog

Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.

I may or may not take any trade published and I am under no obligation to post any action or update to any idea.

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