III Could be breaking short

17 בנוב׳ 2019

III

So a disappointing earnings day on 14 november saw III gap down and not cover the gap. We now have a break below the cloud. Now...... It did this a couple of weeks ago too and at that time I took a short position and got stopped out as, as you can see from the chart it then rose and climbed back above a pretty thin cloud. I think what's different this time is that it has underperformed BUT what I want to see before I enter a trade is break down again from where it is currently sitting. If you look across to the left from where it's parked itself for the weekend, one could argue its still relatively rangebound. Lets see it confidently drop below before entering.