GTY - Simple Short Setup GTY having big bounce relative to market and appear to be a dead cat toppling.
RSI rolling over for some time.
Hitting the 0.382 and resistance.
I have entered a short here.
Not advice.
GTY trade ideas
GETTY REALTY CORP - SHORT IDEASo I was randomly trolling charts to practice technicals, I stumbled upon this company. I know absolutely nothing of the company or what it does...although using sleuthery I can assume Real Estate. I started running trendlines, fibs, and a top down approach. Looking at the Monthly: there is a huge "shooting star" candle. Weekly: a bearish engulfing setup , Id be looking for a tight move here. I would want price to come back up to 61.8% fib of the current push down, the rest is laid out in the post. 1-2% risk 2:1 RR - Happy Trading.
GTYIt seems cash is pumped on this one and directional bias is bullish with monthly 1SD / $1.25ish. Target is $22. With somewhat low volatility, buying call is ideal ( or buy some shares with call to cap down side loss).
