STAY seems breaking down from a rising wedge formation. Moneyflow was diverging & now crossed down to negative side. We think it can decline all the way down to $13 area.
* Trade Criteria * Date first found- March 9, 2017 Pattern/Why- Rising sedge formation Entry Target Criteria- Break of $16.27 Exit Target Criteria- Momentum trade, up to $13.00 Stop Loss Criteria- $17
Please check back for Trade updates. (Note: Trade update is little delayed here.)
Trade active
March 10th - Traded into entry price, but closed at the top of the range and tagged to MA50. Wait & see situation.
Comment
March 13th - Spiked up to EMA 9, but closed bearish. Looking good as short.
Comment
March 20th - Declining nicely holding below EMA lines, and closing at the bottom of the range. Looking good as short.
March 29th - Still holding to MA resistance very well. Wait & see situation.
March 30th - Another counter trend move from MA resistance. Looking very good as short.
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