EXPE was added as an Active Short Trade on March 21st and as this updated daily chart shows, the stock has been stair-stepping lower since then on these “micro-uptrend line” breaks. Zooming out to the updated weekly chart, EXPE hit the first target (weekly uptrend line) last week for a 11.2% gain. Whether on not we bounce here, my preferred target on this trade is the weekly second target (T2) at 35.75. Remember, in the previous post, I listed two separate sets of targets to accommodate both short-term, more active traders (the daily chart targets) as well as longer-term swing traders (the weekly chart targets). Regardless of which category you fall into, one should always pay close attention to the technicals on various time frames for your trades.
The next sell signal (i.e.- new short-entry or add-on) will be on a solid break or close below the weekly uptrend line. More active traders might use that “micro-trendlines” on the daily frame to micro-manage their position. Updated daily & weekly charts:
