• ACN - Aug 27 201520150827
  • AMGN - Aug 27 201520150827
  • AVGO - Aug 25 201520150825
  • BRKB - Aug 25 201520150825
  • FNHC - Jul 28 201520150728
  • HA - Jun 04 201520150604
  • HSY - Jul 21 201420140721
  • INTC - Aug 25 201520150825
  • JBLU - Jun 10 201520150610
  • LABU - Aug 27 201520150827
  • NBIX - Jul 27 201520150727
  • ROST - May 26 201520150526
  • SAVE - May 08 201520150508


Active Trades – Short

Active Trades are trade ideas that were previously posted as Trade Setups and have since triggered an entry or occasionally, a trade idea that was first posted directly to the active trades category as offering an objective entry at the time of the initial post. Active Trades might also be listed in one or more of the other trade categories as these categories are not necessarily mutually exclusive. E.g.- An Active Trade that still offers an objective entry might also be categorized under the Trade Setups category. Likewise, an Active Trade with multiple prices targets may have already hit one or more of those initial targets with additional target(s) remaining, thereby falling under both the Active Trades and Completed Categories. Traders should look to make any new entries or add to existing Active Trades objectively, such as a on pullback to a support level during an uptrend or a re-test of a broken trend-line, wedge, or channel pattern.

Aug 272015
 

AMGN (Amgen Inc) offers an objective short entry here on the backtest of the recently broken uptrend line. Suggested stop over 167 if targeting T3, lower if targeting T1 or T2. Daily chart below:

AMGN daily Aug 27th

AMGN daily Aug 27th

 

Zooming out to a 10-year weekly chart, it would appear that as with the majority of stocks in the biotech sector, AMGN has most likely embarked on a new bear market following the impulsive breakdown below this primary uptrend line.

AMGN weekly Aug 27th

AMGN weekly Aug 27th

 

On a related note, it would be impossible to add all of the biotech stocks that have currently bounced back to at or near their recently key former support levels (e.g. - trendlines, rising wedges, horizontal support, etc...) that were recently broken. LABU (3x Bullish/Long Biotech ETF) remains an Active Short Trade and is a simple way to short the biotech sector while gaining diversity amongst numerous stocks in the sector. As always, make sure to take into account the 3x leverage when determining your position size, assuming that shorting the biotech sector fits your risk tolerance & aligns with your current market bias & trading plan.

I may add additional individual biotech stocks as official short trade ideas but for those interesting in the sector, I would highly recommend that you view the July 30th Biotech Tech Wreck video, as the charts of my favorite biotech short trade ideas were covered in detail.

 August 27, 2015 11:53 am  Active Trades - Short, Short Setups Tagged with: ,
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