the FDO short is a good example of a short trade that has performed well in lieu of a strong uptrend in the broad market. FDO is at a 6.7% gain from entry (68.84 on june 27th) and since the last update, prices have broken below the S1 support line and have failed to regain that level on multiple attempts so far. targets are shown on this updated daily chart. i have also added a weekly chart with an additional entry criteria and some longer-term swing targets.
for those in the trade, a tight stop on a solid move above S1 (now resistance) would guarantee a modest profit on the trade while a more liberal stop might be considered at entry for a breakeven on the trade. based on the fact this trade will offer an new objective entry on a break of the weekly (and daily) trendline, i will add it as a new setup in addition to the current active trade status.
