After tripling in a few short months, riding the wave of strong earnings, its time for 
SG to return to earth. Looking at the chart you'll see a gap that needs to be filled.
Valuation is a concern here and on that simple basis it should fall to lower portion of gap. Opening short position here similar to short in $SHAK. Will add to position as momentum to the downside is established.
SG to return to earth. Looking at the chart you'll see a gap that needs to be filled.Valuation is a concern here and on that simple basis it should fall to lower portion of gap. Opening short position here similar to short in $SHAK. Will add to position as momentum to the downside is established.
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TBH, this has shown more strength than expected. That said, we still believe this is a candidate that will come back to the 20-24 range in the coming weeks. Adding to the short position...Trade active
Expected SG to follow the same path downward as $SHAK. Standard rotation after a rise...maybe towards end of quarter you will see more profit taking.Trade active
Could be just the start of end of quarter profit taking. Whats the old saying? Bulls make money. Bears make money. Pigs get slaughtered.Always trust the math.
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Its been a good day for the SG bears. If shorts are able to push this down below $28.60 level the next support is in the $18-$19 range. Could happen very quickly given end of quarter profit taking.
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Support was broken. Look out below. 18-19 on the daily over the next 4-6 weeks possible.Trade closed: target reached
Taking profits...break out all the cliches. bulls make money bears make money pigs get slaughtered.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.