P (Pandora Media Inc) will be added as an Active Short Trade around current levels (30.94). P recently broke down below this well defined ascending channel and sliced through the 32.00 support level today, which opens the door to additional downside in the stock. I had intended to post this trade idea on Friday while the stock was just below the channel so at this point, with prices already about 1/2 way to my first price target of 27.72, one might consider only targeting T2 (23.12) or T2 (21.70) and allowing for a little room on the stops, should P experience a quick snap-back rally. T2 is my preferred target at this time with a suggested stop over 32.90.
P daily March 24th