As the market has not cooperated with my long breakout plays, I want some exposure to the short side. So why MTN? After all it's been very strong since the middle of may.
Here's what I see. Two new highs with declining MACD, that is typically suggestive of a topping pattern. In addition earnings have already come out so I minimize my gap risk
Entry: $77.36. Stop 79.50. If the market stays under pressure I wouldn't put it past it for that 72 Gap to fill.
No comments:
Post a Comment