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2 for 1 on YahooYahoo has produced two high probability patterns that would fit well in a bearish channel. The cypher (purple) formed right after the rejection candle at $32.17 at the 1.27 extension measured from the X to A leg. Price also put in a double top at $39.64. A Gartley pattern (red) shortly appeared right after. The kill zone for the bearish Gartley pattern is at $38.33 at the .786 retracement measured from X to A. There's also confluence at $38.47 1.27 extension level measured from C to B leg of the Gartley. When there is confluence, there's strong resistance/support. I'm looking to short the gartley (red), and if price action heads up a little higher into the Cypher (purple), i'll scale in another size. ****************************************************************************** For inquires of education, live trading room, or prop trader funding email epicdaytrading@gmail.com Skype: epicdaytrading PH: +1 940-448-0281 ******************************************************************************
YShort
by Yuba_Tamazgha
MNST - (NASDAQ: MNST) fell more than 3% on TuesdayMonster Beverage Drops On Stifel Concerns ***** (finance.yahoo.com) 03/06/2014 Shares of Monster Beverage (NASDAQ: MNST) fell more than three percent Tuesday morning on comments from Stifel, following the shareholder meeting. Stifel reduced its estimates on weaker-than-expected sales growth for the past several months. Analyst Mark Astrachan backed up his claims with Monster’s weaker-than-expected April sales and difficulty launching new products. Stifel cuts its second quarter sales estimate from 12.2 percent year-over-year growth to 9.9 percent. The earnings reduction on this drop is from $0.76 to $0.74. However, Astrachan did state, “We continue to anticipate at least high single-digit sales growth for Monster over the next 3-5 years driven by U.S. share gains, continued international expansion, and innovation.
NASDAQ:MNST
by Ryan.Chai