PFPT
PFPT - Downward momentum short from current level PFPT was another very successful short setup. It had a wonderful run from 105 to 76.33. It adjusted a to its long term support/resistance and now seems getting ready for another fall. We think it has good downside potential from current level.
PROOFPOINT INC - Bearish Divergence All Over The PlaceLike the title says, PFPT got some bearish divergence in the RSI. Potential H&S.
PFPT - H&S formation short from $71.87 to $45.33PFPT broken down from an upward channel, but cold not decline much. Went up, retested the upward trend line, started to roll down & now we have the sharp breakdown. On the weekly frame it is forming a H&S formation, and also a larger time Upward channel. Overall it is an interesting short & we are looking for some longer term short trade, as low as $45.33. We would also consider $70 Aug or May Puts
* Trade Criteria *
Date first found- March 24, 2017
Pattern/Why- Head & shoulder, Larger Upward channel
Entry Target Criteria- Break of $71.87
Exit Target Criteria- $57.33, 2nd - $45.33
Stop Loss Criteria- $78.87
Please check back for Trade updates. (Note: Trade update is little delayed here.)
PFPT - Short at the break of uptrend/flag, Target $62.30 & $58PFPT seems broken down a long term upward channel, in short term it looks like a flag formation that is broken down recently. It looks very good as long.
Trade Criteria
Entry Target Criteria- Break of $74
Exit Target Criteria- Target 1- $62.30 , Target 2- $58
Stop Loss Criteria- N/A
You can check detailed analysis on PFPT in the trading room/ Executive summary link here-
www.screencast.com
Time Span-0:39:00 "
Trade Status: Pending
