Yes, looks like we have a double bottom - a confirmation of a trend reversal....and a little research into the company, it looks good. Should be a good long term portfolio add, BUT it currently way over bought according to the RSI and I've read and seen play out that double bottoms/head and shoulders typically will trend reverse the same distance from the neckline as they did when forming the pattern. R/R also looking good.
So taking all of that into consideration, I went short before todays market close. It might have been better to go short at some point tomorrow...just watch for the short confirmation.
So taking all of that into consideration, I went short before todays market close. It might have been better to go short at some point tomorrow...just watch for the short confirmation.