Elf - not looking pretty

7 Şub

A breakdown of the neckline confirmed the head & shoulders pattern on this stock. Elf Beauty is not looking very pretty here post earnings. My short was activated at loss of support at $97.94. There is a potential support at $63.88. If we get a bounce here, I may close 50% of my position. I expect the final target of $43 to be reached at some point. The RSI is heading down, I also expect a complete reset.

The Grand Supercycle has peaked with a classic double top and head and shoulders pattern. Be careful buying the dip if you believe in this company, this is a powerful downtrend. We also shorted Celsius using similar TA.

Not financial advice, do what's best for you.

7 Şub

İşlem elle kapatılmış

Bounced exactly at $63 support, good reaction so far. Closed 50% of my short, using trailing stop losses for the remainder. Bulls appear to be stepping in, will they absorb the selling pressure? Let's see