Pandora Short Trade Update- Jan 3rd
The P (Pandora Media Inc) short trade, which was first mentioned as an objective short at 29.71, hit the first target (bottom of the ascending channel) on Dec 18th for a gain of 12.3%. From there, as is often the case when an profit target is hit, the stock bounced until making a perfect kiss of the minor (yellow) uptrend line from below and immediately reversing from there. The stock continued to fall, breaking below the primary ascending channel on Dec 30th and once again is offering an objective add-on and/or new short entry as the stock is back-testing the channel from below. T3 at 21.85 remains my final & preferred target at this time. Click here to view the live chart of P (Pandora).