Shorting MANH on Break Of Dual-Support

MANH (Manhattan Associates Inc.) offers an objective short entry on this break below dual support (horizontal + trendline). T2 at 48.70 is the current final target with a suggested stop on a close above 75.00.

Typically I'll only close out position in the last couple weeks of the year as trading volumes drop, resulting in increased whipsaw signals but in this case, I decided to take a starter position in MANH & might even extend the final target to the 41 area, should both MANH & the broad markets move lower in the coming weeks/months.

Dec 21, 2015 3:07pm|Categories: Completed Trades - Short|Tags: |Comments Off on Shorting MANH on Break Of Dual-Support