FCH (Felcor Lodging Trust Inc) will be added as an Active Short Trade here on the break below this daily rising wedge pattern. Although I typically avoid late day Friday entries, I did take a starter position on the breakdown here. More conservative traders might wait to see some downside follow-thru on FCH next week.

Adding to the longer-term bearish case for this trade, FCH has recently made an over-extended run into key multi-year resistance as shown on the weekly chart below. As I wanted to get this trade idea out asap, I haven’t had time to clean these charts up yet but I do plan to follow-up with a link to a live daily chart which will also list a firm price target (or targets). As of now, I have the target zone that runs from around 7.30 – 7.50 as my sole profit target but again, that may be slightly revised if this trade begins to get some traction.

FCH daily April 11th

FCH daily April 11th

FCH weekly April 11th

FCH weekly April 11th