HCN formed a beautiful longterm H&S formation. Money flow heading down. We think it has Long-term downward potential. To play this we would look at $47.50 January 2019 Puts currently $2.75
* Trade Criteria * Date First Found- November 27, 2017 Pattern/Why- H&S formation in weekly frame Entry Criteria- current price ($67.47) (hit November 28, 2017) Exit Criteria- 1st Target $58.20 (Hit February 1, 2018), 2nd Target $54.20 (Hit February 9, 2018) and Long term Target $28 Stop Loss Criteria- $60.43 (updated February 5, 2017) Indicator Notes- Very poor Financial ratios (P/C: 105.23, P/FCF:110) Special Note- Would look at $47.50 January 2019 Puts currently $2.75.
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