AGO: Short Setup on a Double Top Formation
Update: The trade is active now
Update: Target Hit
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The share is showing recovery, however the bullish rebound could provide an opportunity for another short.
-The price has tentatively broken the double top formation
-The price has tentatively broken the 52-week SMA
-The price has broken the ascending support for the rising wedge formation
-Heavy volume on downside breakouts
-Sustained bearish divergence on RSI
I will be short near 24.50, targeting 20.50 support level, with a stop daily closing above 26.25.
Best of Luck , join me at twitter.com/thefxchannel
Also at my Facebook page thefxchannel.com
My best regards,
Technician
Update: Target Hit
---------------------------------------------------------------------------------------------------------------------------------------
The share is showing recovery, however the bullish rebound could provide an opportunity for another short.
-The price has tentatively broken the double top formation
-The price has tentatively broken the 52-week SMA
-The price has broken the ascending support for the rising wedge formation
-Heavy volume on downside breakouts
-Sustained bearish divergence on RSI
I will be short near 24.50, targeting 20.50 support level, with a stop daily closing above 26.25.
Best of Luck , join me at twitter.com/thefxchannel
Also at my Facebook page thefxchannel.com
My best regards,
Technician
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