We are on the hunt for short ideas as we expect to see some form of pullback in equities in the short term. Sage Group is in a long term downtrend and has underperformed the benchmark index over the past 1-3 months on a relative basis. The shares have rallied into downtrend resistance as well as a combination of the 50 & 200 day moving average. There was also a...
expecting a correction of this sharp rally down to the 50% fib at least
Confluences: low volume resistance turned support level price finally broke through could act as magnet
current channel rejection off resistance
doji/hammer rejection on daily into a heavy daily sell off indicative of bears entering the market