MMM Seems breaking down from an upward channel formation & also breaking down below 200 days moving average. It has fair amount of insider selling. We think it will continue downward from here.
To play this we Could consider July $200 Puts (currently 2.10)
* Trade Criteria *
Date First Found- March 23, 2018
Pattern/Why- - Upward channel breakdown short
Entry Criteria- $221.87
Exit Criteria- 1st Target $200.73 & 2nd Target $184.70
Stop Loss Criteria- $238.57
Indicator Notes- Negative Twiggs money flow index
Special Note- Insider selling a few 29-36% selling. Could consider July $200 Puts (currently $2.10)
Please check back for Trade updates. (Note: Trade update is little delayed here.)
To play this we Could consider July $200 Puts (currently 2.10)
* Trade Criteria *
Date First Found- March 23, 2018
Pattern/Why- - Upward channel breakdown short
Entry Criteria- $221.87
Exit Criteria- 1st Target $200.73 & 2nd Target $184.70
Stop Loss Criteria- $238.57
Indicator Notes- Negative Twiggs money flow index
Special Note- Insider selling a few 29-36% selling. Could consider July $200 Puts (currently $2.10)
Please check back for Trade updates. (Note: Trade update is little delayed here.)
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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.
Like what you see? Get full access to our 3X daily members only video/txt alerts & live trading room at smartmoneytrading.com/now
Check out some of our free video examples @ smartmoneytrading.com/insights/
Check out some of our free video examples @ smartmoneytrading.com/insights/
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.