Fundies
Stock currently over valued - price should be around the 21s
Macro leading indicators 44% Correlation on the downside so if break lower means this trade is on so monitor these ( I anticipate these continuing lower in Nov & Dec)
Tech
Downwards wedge in short term
Price Struggles around the 29 levels
Trade Plan
Monitor Leading Macro Indicators - wait for the confirmation of downwards trend
Entry Starter - 28s Adds in 28.50s once confirmed on macro size add full size
Risk 29s - 30s ($1, $1.50)
Target Short term 26.28, long term 21s
Trade view Short Term - till end of year
Long Term - end of Q1 2020.
Potential Hegde with MHH
Stock currently over valued - price should be around the 21s
Macro leading indicators 44% Correlation on the downside so if break lower means this trade is on so monitor these ( I anticipate these continuing lower in Nov & Dec)
Tech
Downwards wedge in short term
Price Struggles around the 29 levels
Trade Plan
Monitor Leading Macro Indicators - wait for the confirmation of downwards trend
Entry Starter - 28s Adds in 28.50s once confirmed on macro size add full size
Risk 29s - 30s ($1, $1.50)
Target Short term 26.28, long term 21s
Trade view Short Term - till end of year
Long Term - end of Q1 2020.
Potential Hegde with MHH