It doesn't get much more clear as the line in the chart above. We are right at resistance in my most despised trade war stock, DE. The reluctance for this stock to roll over despite tons of bad news, terrible earnings and terrible guidance has been uncanny. I think DE is especially vulnerable here with no good news in the trade war in sight. Let's short DE here.
Short @ 152.60
Target 1: $146
Target 2: 141
Stop on a an hourly closing basis through the drawn line (about ~$1 higher).
Short @ 152.60
Target 1: $146
Target 2: 141
Stop on a an hourly closing basis through the drawn line (about ~$1 higher).
Trade closed: stop reached:
Never had a chance -- instant death. It happens sometimes.