GFF - Descending triangle breakdown short from $24 to $21.20

GFF is in the weak Realestate sector, which is rolling over. It seems running within a channel or a descending triangle, and seems heading down. Overall it looks a decent short technically.

* Trade Criteria *
Date first found- March 9, 2017
Pattern/Why- Descending triangle breakdown
Entry Target Criteria- Break of $24
Exit Target Criteria- $21.20
Stop Loss Criteria- $25.13

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

Trade active

March 10th - Adjusted upward and hit entry price. Now wait and see.

Note

March 14th - Showing some weakness after adjusting to EMA lines, looking good.

Note

March 21st- we would consider $25 April Puts 0.80 / July $1.60

Note

March 22nd- Possible downward H&S

Note

April 3rd - Strong downward move today and closed at the bottom of the range. Looking good as short. $25 April Puts traded as high as $1.60, 100% up from entry, and $25 July Puts traded as high as $2.50

Note

April 11th - Downtrend continued as it holds below EMA lines. Looking good as short. $25 April Puts traded as high as $2, 150% up from entry, and $25 July Puts traded as high as $2.45

Note

April 12th- updating our stop loss criteria to $24.13

AcornWealthCorp

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AcornWealthCorp

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