This is a rare and exciting example of a bubble that popped.
Testing the theory that the best time to buy is when there's blood in the streets, would anybody buy this stock now?
Well I don't imagine many people would buy now. I'm not tellin' what I'm doing!
This is not a recommendation to trade securities. If you take a position and lose your money, kindly...
After losing 67% from all time highs. The stock is showing promising potential for reversal.
Inverse H&S pattern with divergence and a clean break of the down trend line. Now just above the 200SMA.
1st target is to close the gap.
Facebook has all the classifications of a Primed Traders sell signal... a contraction leading to a key DC resistance supported by a over-bought RSI.
All the necessary details are in the chart. The trade has been executed on our Shares only account:
- 50 shares sold at 208.14 price
We will update as price moves,
MNK is dead or almost dead. Often times there is a dead cat bounce in stocks like these, as 'everybody' gets the same idea to throw some money at it.
This is a high risk scenario but with potentially good risk to reward ratios.
Disclaimers: I've clearly said this is high risk. This not advice to trade in securities. I am simply showing what may happen from a...