If you want to short individual stocks look for the ones that are weak compared to the broader stock market.
RIG is an excellent example of a stock to short. It has underperformed the market for years. Its most recent rally up to 13.03 is just the most recent example of weakness as it failed to move above the prior high at 13.48 made in February.
Compare this to the SPX which has moved above its February high.
RIG is a great stock to short if it has another rally. Minimum downside target is 7.67 lower targets could be difficult to determine because the stock has never been lower than 7.67.
Mark
RIG is an excellent example of a stock to short. It has underperformed the market for years. Its most recent rally up to 13.03 is just the most recent example of weakness as it failed to move above the prior high at 13.48 made in February.
Compare this to the SPX which has moved above its February high.
RIG is a great stock to short if it has another rally. Minimum downside target is 7.67 lower targets could be difficult to determine because the stock has never been lower than 7.67.
Mark
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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.