Time to ditch Universal American Financial

On the daily chart, Universal American Financial stocks showed a double top at USD 9.27, with the pattern shaping up after a powerful counterattack signal on October 31, 2014. Stocks tend to slide in the wake of this signal. The Monday session is closing with a shooting star on the upper boundary of the pattern, a perfect time and place to short the name. Divergence in RSI adds confidence. Short selling with a target of USD 8.56, the nadir of the pattern, is possible. A breakout from the pattern at this mark would pave the way for a classical formation with a USD 7.85 target.

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