@SWBI Close to Breaking Down
Updated
SWBI Looking to break a support area. I will be looking to short this one on a break below the $13 area with a stop just above the blue support / resistance area. Next logical support area is down in the high 8.xx range which represents over a 30% decline. See notes on Chart. Lots of reasons this stock could tumble, fundamentals include slowing EPS and sales along with the ever-present regulatory issues. Ideas, not investing / trading advice. If you take a trade like this, make it your own. This idea inspired by a post from Yogigolf here on TradingView.
Trade active
Short 1/3 size position @ 12.87 - Stop just above May 2022 support / resistance zone.Trade closed: stop reached
Ran a very tight leash on this one, gave it some room yesterday but it's just not doing what I want so closed @ 13.31 for small loss of .44 a share or 3.4%. Still on watch list.
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.
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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