AcornWealthCorp

SIX - Upward wedge short from current price , $65 March puts

Kort
NYSE:SIX   Six Flags Entertainment Corporation New
SIX was a successful short trade quite a few times. And again it seems ready for another decline. It is running within a long-term rising wedge formation, and when it hits its top resistance, money flow has gone to zero with huge divergence. It has good insider selling as well as good short flow. We think it has good downside potential.
Along with stock we would consider $65 March puts, currently $3.00

* Trade Criteria *
Date First Found- December 14, 2017
Pattern/Why- Long term upward wedge
Entry Target Criteria- Would consider $65 March puts , currently $3.00
Exit Target Criteria- $55.77
Stop Loss Criteria- $68.13
Indicator Notes- Twiggs moneyflow divergence
Special Note- Insider selling; Short Float is 13.69%,

Please check back for Trade updates. (Note: Trade update is little delayed here.)

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