I am moving the NTRI setup to an active short trade here as it has come close enough to backtesting that large gap from Nov 9th that I mentioned in the previous post (top of the gap is 9.20). As I plan this to be a longer-term swing trade, I am continuing to scale into the position with modest sized lots in order to allow for relatively wide stops (stops to be on a move somewhat above the top of the gap). Targets TBD. For those who are interested in the trade but would prefer additional confirmation, as this is a counter-trend trade at this point, note how the bearish MACD cross-overs following the overbought readings on the RSI have provided additional confirmation to a swing-short entry. We haven’t gotten the bearish cross-over yet but from the look of the histogram, it should come shortly after any half-decent reversal in the stock.
