There is an interesting phenomenon that occurs often: when a gap down of this size occurs, followed by a bottoming action and a large white candle forms, this often becomes an island gap. HFTs that gapped the stock down gap it up again.
The fact that the gap down candle is a huge white candle for this chart indicates that the gap down is below fundamental values...
An intraday high potential, Back Tested Sort Analysis.
We ll try to enter into the correction of the uptrend movement.
DETAILS ON THE CHART
NOTE: Entry range area above the entry point, is calculated upon 80% of the recorded pullback back tested past performances
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
The last time I publish a short selling Idea was in February 9-2018
And now this kind of opportunities are scarce, because the whole market is bullish and you can not sell short stocks only because the Dow Jones had a bad week
But I like the process of search because I spend hours searching in my watch-list only to find a few ideas
Now go to the technical aspect...
First target is for 29.20. if it goes till 31.1, then there is a chance to go to 35 with gap up. (that still need some confirmation which i projected in yellow).
