regarding my post on the investment brokerages below, here’s the daily chart of PJC, which looks like a text-book short to me. what’s nice about this set-up, which i am also adding on an active trade, is that it just broke down from a smaller bear flag which also coincided with a breakdown from a larger uptrend channel. initial target is market although keep in mind that the chart looks very bearish from a longer-term (weekly chart) perspective so i may add additional targets as/if the trade plays out. stops always vary depending on one’s trading style, profit target, risk tolerance, etc.. but i’d say a stop not much further than above the 25 area looks objective for a someone targeting a long-term swing short but of course, that might be too liberal for anyone targeting this initial target shown here as you would need a tighter stop to justify the R/R on the trade. a stop just above the 24 area looks better in that case and keep in mind, my targets and suggested stops are typically based on technical levels and not just random but again, please use stops commensurate with your own trading style and objectives.
