This drug wholesaler has it's fair share of uptrend thanks to the booming pharma industry.
For the last quarter since June, the price has been "consolidating" but RSI & Klinger Oscillator has been giving a bearish divergence warning.
As we know often that 1st bearish divergence might not materialize, i took my put option short entry at 78.04 without waiting for any sort of next candle confirmation to sell a tick lower, in a quest to "outsmart" Mr. Market
There is a risk here, the price might suddenly spike out into the blue region - a potential trap to shake out all the shorties like me before it plunge.
Hence either i can stomach initial loss for a bit longer before seeing more reward or if i get stop out, my loss are minimum
For the last quarter since June, the price has been "consolidating" but RSI & Klinger Oscillator has been giving a bearish divergence warning.
As we know often that 1st bearish divergence might not materialize, i took my put option short entry at 78.04 without waiting for any sort of next candle confirmation to sell a tick lower, in a quest to "outsmart" Mr. Market
There is a risk here, the price might suddenly spike out into the blue region - a potential trap to shake out all the shorties like me before it plunge.
Hence either i can stomach initial loss for a bit longer before seeing more reward or if i get stop out, my loss are minimum