Possible Short Setup for Aerojet RocketdyneHead and Shoulders + possible security law violations = great time to short
Needs to break down past $32
Targets: $30 and $27
AJRD
AJRD - Easy Short back down to $34Confident this is in a upper wedge pattern.
Wait for confirmation of resistance prior to short entry - as of now the moving averages are still bullish
The RSI is textbook for nominating this stock for the short
How I will play it:
Simple Option Entry
o ITM puts (within 3 strikes)
o 1 -Year Out
o High Delta
o Double Check Volume Bars
AJRD - Defense Budget SpendingAug 13 approval of D-plan spending. This one to join top 5 D-stocks.
Call it a vice stock. Come to own conclusions.
AJRD: Round Top It has been really neat watching this play out. Baring an amazing recovery by the Bulls:
The Rounding Top has been confirmed.
Happy Trading,
Charles
AJRD: Awesome Set-upThis is a very neat chart. We have clear levels to watch and play off. If the Rounding Top confirms this is going to be a long-term Short play.
AJRD Possible Longterm Trend ChangeThis is a really cool chart. It still needs to play out some, but I am excited about this one.
