MMM - Upward channel breakdown short from $221.87 to $184.70

16 באפר׳ 2018

MMM Seems breaking down from an upward channel formation & also breaking down below 200 days moving average. It has fair amount of insider selling. We think it will continue downward from here.
To play this we Could consider July $200 Puts (currently 2.10)

* Trade Criteria *
Date First Found- March 23, 2018
Pattern/Why- - Upward channel breakdown short
Entry Criteria- $221.87
Exit Criteria- 1st Target $200.73 & 2nd Target $184.70
Stop Loss Criteria- $238.57
Indicator Notes- Negative Twiggs money flow index
Special Note- Insider selling a few 29-36% selling. Could consider July $200 Puts (currently $2.10)

Please check back for Trade updates. (Note: Trade update is little delayed here.)