BUFF is forming a possible declining neck head & shoulders pattern. In the weekly frame it also seems a head & shoulder formation. It has high P/E & Debt/Equity ratio. It also has some insider selling history.
So overall a decent short opportunity, from $23.17 to 18 area.
On the option side we would consider $25 March-17 Puts
You can check our detailed...
BUFF has been stair stepping downwards the past couple of weeks and should continue, First it needs to break the support level at around $22.50 then it should have no problem heading down to around $21. The multiple long upper shadows suggest the Bulls have been attempting to gain momentum but have been unsuccessful, signaling the Bearish trend should continue