CTVA has formed a double top at a previous resistance level, where price has never been able to push above.
Also price has formed 2 bearish pinbars which could indicate a reversal.
I also really like this trade because the stock is in the Basic Material sector, which has been the worst performing sector in the past year, so it makes perfect sence to short a stock in this sector.
We can therefore take a short trade now
Also price has formed 2 bearish pinbars which could indicate a reversal.
I also really like this trade because the stock is in the Basic Material sector, which has been the worst performing sector in the past year, so it makes perfect sence to short a stock in this sector.
We can therefore take a short trade now