DOW - Short Opportunity
A double top pattern was formed and the stock crashed and now price has retraced back to the resistance level, giving us another opportunity to ride the waves down. Near-term short signal has also appeared. Price failed to break above 200 MA, showing bearish sentiments.
Entry: 49.77
Stop Loss: 53.6
Take-Profit Target: 43.95
Entry: 49.77
Stop Loss: 53.6
Take-Profit Target: 43.95
Trade closed manually
Closed at 49.6 as there is strong downward resistance. Will look to reenter if another bearish signal appear.Note
Reentered position at 49.4
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