SFLY Intermediate-Term Bottom ImprovementShutterfly Inc. has been working on an intermediate-term bottom for most of this year. Momentum has moved the price up to just below the bottom completion level. There is also a Shift of Sentiment on the Balance of Power Indicator revealing Dark Pool intermittent Quiet Accumulation.
SFLY
SFLY - Inverse fallen angel short from $77.13 to 65.13, Jun PutSFLY starting some momentum based downward move. Twiggs money flow has a huge divergence. We think it has huge down side potential. To play this we would consider $67.50 Jun Puts @1.40
* Trade Criteria *
Date First Found- April 4, 2018
Pattern/Why- Inverse fallen angel pattern
Entry Criteria- $77.13
Exit Criteria- $65.13
Stop Loss Criteria- $85.13
Indicator Notes- Strong Twiggs money flow index
Special Note- 79% insider selling. Personal Services - BIG SELLING. Would consider June $67.50 Puts (currently 1.40)
Please check back for Trade updates. (Note: Trade update is little delayed here.)
