In updating the trade ideas on the site, the following trades will be removed from the Active Short Trades category. These trades have either hit one or more profit targets, exceeded their suggested (or any reasonable) stop criteria, or based on the technicals, these trades no longer offer a very attractive risk/reward profile. Also note that there are a few short trades that have exceeded their suggested stop(s) but still look attractive and as such, will remain as active trades for now. I will update those charts on an individual basis asap. [...]
here are the updated daily & weekly charts on CERN. i have decided to set my stop slightly above the 80 level which is both horizontal resistance, a re-test of the recently broken multi-year uptrend line (only partially shown on this daily chart, see weekly for the entire pattern) as well as my typical M.O. [...]
the CERN short trade announced earnings last night and it up considerably in pre-market, currently trading around 77. as the entry price was 72.52, this trade will go from a modest gain to a modest loss due to the likely gap up today. my plan on this position will be to place a hard stop [...]
the CERN short still looks good and will be looking even better once/if that S1 (support level) gives way. a tight stop level is noted on this updated chart (orange line) but as this trade is still profitable, a swing trade targeting T2 might give it some more room. note: many of the active short [...]
CERN looks like an objective entry at current levels (72.52) as it has recently broken below a multi-year uptrend line and just completed a second successful retest of that trendline from below. weekly and daily charts below, targets marked on daily.