Glenmark: In Strong Downtrend

10 בספט׳ 2017

Stock is in a strong downtrend; had a fresh breakdown @ 592. Last closing @ 580.25; selling opportunity can be found either on pullback to 592 or on break below 576.
For this trade targets on the downside will be 555 and 536 -- where the stock may find some support.

Trade safe, stay healthy.
Hit like/comment if this information is useful.

Regards
Bravetotrade

10 בספט׳ 2017

הערה

11 בספט׳ 2017

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...And the downtrend continues...

11 בספט׳ 2017

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Short at 579.50 and same is my SL now.
Let's see, just sitting tight 🤘

11 בספט׳ 2017

הערה

12 בספט׳ 2017

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I ll cover above 577 with the idea of looking weakness again in this pullback.

13 בספט׳ 2017

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Near 592 breakdown level. Weakness at this place would attract sellers.

14 בספט׳ 2017

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weekly close somewhere near current price , above 600 or so, and then continuation will take it higher.

If that happens we ll surely see swift, sharper up move.

15 בספט׳ 2017

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Last short did bring some fortunes, although not substantial. Stock came back; broke up the psychological 592 level and is staying above that level which is positive for bulls. But stock seems tired and so far there is no continuation above 605.

I would like to see further retest of 592 to confirm that the upmove is sustainable.

Any weakness at or below 592 again may attract short.

However, If there is a clean sweep above 620 -- buy on pullbacks should be the strategy.

This post will only be updated fro shorting opportunities.