American Eagle - Head and Shoulders Top - Selling opportunity
Head and shoulders Top
A selling signal pattern.
Option 1: To wait for price to close below the support line. Then short the stock. Stop loss when the price close above the support line.
Take profit: As you deemed fit
Stop loss: Close trade when the price closes above the "support" line.
A selling signal pattern.
Option 1: To wait for price to close below the support line. Then short the stock. Stop loss when the price close above the support line.
Take profit: As you deemed fit
Stop loss: Close trade when the price closes above the "support" line.
Note
Although the chart shows a head and shoulders top. As the prices are already very low. It may or may not break through the support line.
Therefore, we can start a buy position and change to a sell position when necessary.
Take profit: 22 dollars
Stop loss: When the price closes below $10.
If the stop loss trigger, we can go with option 1 .
Trade active
Buy when the market opens on 28th May
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.