FMBI - Breakdown Momentum short from $23.87
Updated
FMBI seems rolling over after a good upward move, followed by some consolidation. Moneyflow has just plummeted to negative side. We think it will decline now, and we would consider a momentum Short from here.
* Trade Criteria *
Date first found- March 8, 2017
Pattern/Why- Breakdown Momentum short
Entry Target Criteria- Break of $23.87
Exit Target Criteria- $21.37
Stop Loss Criteria- $25.13
Please check back for Trade updates. (Note: Trade update is little delayed here.)
* Trade Criteria *
Date first found- March 8, 2017
Pattern/Why- Breakdown Momentum short
Entry Target Criteria- Break of $23.87
Exit Target Criteria- $21.37
Stop Loss Criteria- $25.13
Please check back for Trade updates. (Note: Trade update is little delayed here.)
Trade active
March 10th - Declined & traded into opening price. Looking good as short.Note
March 14th - Declined from EMA lines, and made lower low. But could not hold to it, wait & see situation.Note
March 27th - opened right on its 150 day SMA and closed fairly strong. Updating our stop loss criteria to $24.43Note
April 5th - Nice decline & moneyflow also back to negative territory. Looking good as short. April 10th - further decline holding below EMA lines
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