BG

BG

05JUN16 -
Stock looks like it is going to reverse at heavy resistance / trend channel that is in confluence with the 0.5 fib level at $69 and is heavily overbought on the RSI (80).

Entry criteria:

• Long Position - Breakout from the downward price channel and a base of support at $69.
  
• Short Position - If we get confirming bearish candlestick formations at the stop of the channel supporting by weak market performance over the week, potential to enter short and ride to $62