The stock is in a uptrend so shorting this will be a high risk trade.
However, we see that in the last 5 days, the volume has been decreasing and the candles have been shrinking in size.
This is a possible hint that buy interest @ higher prices is weakening.
Also note that today we have a nice bearish engulfed pattern. Any bulls that bought yesterday are now in pain. this could possibly help drive the price down.
Therefore, I am thinking this could be a possible intraday short tomorrow. Some good targets would be $70 and of course $68.
However, we see that in the last 5 days, the volume has been decreasing and the candles have been shrinking in size.
This is a possible hint that buy interest @ higher prices is weakening.
Also note that today we have a nice bearish engulfed pattern. Any bulls that bought yesterday are now in pain. this could possibly help drive the price down.
Therefore, I am thinking this could be a possible intraday short tomorrow. Some good targets would be $70 and of course $68.