With the FOMC announcement now out of the way as well as Monday’s inclusion into the S&P 500 index, the recently posted NKTR (Nektar Therapeutics) trade idea will be added as an Active Short Swing trade here in anticipation of an imminent breakdown of this steep bearish rising wedge pattern with an alternative, more conventional entry or add-on to come on a break below 102.00, which will have taken the stock below this steep bearish rising wedge pattern.
NKTR daily March 21st
The price targets for this trade are T1 at 91.02, T2 at 73.89 with a suggested stop of any move above 121.00. Due to the above average gain & loss potential for this trade, the suggested beta-adjusted position size for this trade is 0.75.