2nd BEST SHORT in the entire Market right Now. MCK SHORT @ $359This trade I have been in for a while but thought I would post it here as its a similar setup to the SQM SHORT I posted last week. That SQM SHORT I labeled as "BEST SHORT Opportunity in the Market". Well this one is the 2nd Best in my opinion. Simply because it has been a little stronger stock and in a better sector (Healthcare) than SQM.
Having said that this stock is up HUGE and tagged MAJOR Resistance at $374 level. It also is very over bought and was making NEW ATH in the face of a falling market. As people scramble to protect their profits this one will crater to EMA 39 on Monthly Chart which lies at $243 level. Target Price for this is $244.93.
Entry was $359.06. Stop Loss = Confirmation CLOSE > $379.70. Target = $244.93. That is a 5.5:1 Reward:Risk ratio!!. As mentioned before this trade setup historically has a >85% Probability of working out EXACTLY as shown here.
Recently this trade broke down from a Rising Bearish Wedge and is now well into profit.
