H- H&S formation short from $59 to $52.34 & lower H seems forming a head & shoulder formation. Moneyflow is getting down to the negative. We are looking for a speculative short if it shows weakness after reaching to $59 area.
On the option we would look for $50 November-17 Puts, currently $1.35
* Trade Criteria *
Date First Found- May 15, 2017
Pattern/Why- Head & shoulder formation
Entry Target Criteria- $59
Exit Target Criteria- 1st target $52.34, 2nd Target $44.13
Stop Loss Criteria- $60.2
Please check back for Trade updates. (Note: Trade update is little delayed here.)
