OZRK daily Sept 23rd

OZRK daily Sept 23rd

OZRK (Bank Of The Ozarks Inc) will be added as an Active Short Trade here around the 33 area in anticipation of a break below this primary uptrend line. More conservative, conventional traders might opt to wait for a confirmed break below the pattern before establishing a short position.

T2 (24.71) is the final & preferred target at this time with a suggested stop above 35.50 or below. A short entry at this time should be considered aggressive as not only is this a counter-trend trade but price are still well above this multi-year trendline. Although the stock has recently printed a divergent high & I continue to remain bearish on the regional banking sector, both OZRK & KRE (Regional Banking Sector) have yet to trigger a sell signal by breaking below their highlight support levels.

With that being said, I would not add OZRK as an Active Short Trade, nor short it personally, if I were not confident enough that a breakdown of the pattern was imminent at this point. Of course, that’s just my opinion based on my interpretation of the technicals on both OZRK, KRE & the broad market so as always, DYODD and only consider trades that are aligned with your own unique trading style & risk tolerance.

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