FNGN - Double top formation short from $40.80 / 39.43 to $31.13

FNGN seems forming a long term double top formation. It has previous history of sharp drop & we think it is getting ready for another decline this time. For perfect entry we would look for a pullback or confirmation break.

* Trade Criteria *
Date first found-
Pattern/Why-
Entry Target Criteria- Break of $39.43 or rally back to $40.80
Exit Target Criteria- $31.13
Stop Loss Criteria- $43.13

Please check back for Trade updates. (Note: Trade update is little delayed here.)

Trade active:

March 22nd - Declined & hit break down entry price. Now wait & see.

Comment:

March 28th - broke above MA resistance and is now looking more bullish than bearish. We would consider lowering our stop loss criteria to $42.23