Posted by josephroth on 17th of Mar 2016 at 12:37 pm
I'm asking from a pure learning perspective and do not have the
short trade on NBIX. I'm seeing a double bottom on the daily
with divergence and an oversold condition on the RSI....what am I
missing that makes this an objective short entry under 32.30?
josephroth - weak stocks at support generally have that
potential, a lot of people on Twitter show a ton of trade ideas on
the short idea as a breakdown, and while they may play out, they
also run the risk of breaking and then reversing, especially if
there is positive divergence in place such as on a 60 min chart.
I generally prefer to sort something into resistance vs a
breakdown personally, however in a strong trend or if the market is
really weak or a certain sector these can just break
down.
on NBIX it is near support so one has to be on the look out for
that. The 60 min chart isn't great looking though.
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NBIX Short
Posted by josephroth on 17th of Mar 2016 at 12:37 pm
I'm asking from a pure learning perspective and do not have the short trade on NBIX. I'm seeing a double bottom on the daily with divergence and an oversold condition on the RSI....what am I missing that makes this an objective short entry under 32.30?
Thanks in advance.
josephroth - weak stocks at
Posted by matt on 17th of Mar 2016 at 12:54 pm
josephroth - weak stocks at support generally have that potential, a lot of people on Twitter show a ton of trade ideas on the short idea as a breakdown, and while they may play out, they also run the risk of breaking and then reversing, especially if there is positive divergence in place such as on a 60 min chart. I generally prefer to sort something into resistance vs a breakdown personally, however in a strong trend or if the market is really weak or a certain sector these can just break down.
on NBIX it is near support so one has to be on the look out for that. The 60 min chart isn't great looking though.