The following short trades will be moved to the Completed Trades (Short) category as they have either exceed the previous suggested stop (or any reasonable stop, if none suggested) or the technicals no longer warrant remaining short at this time. Several of the Active Short trades still look to offer objective entries or add-ons at this time with others trading right at or just above key support level, which may offer another objective entry or add-0n once those levels are taken out. I plan to highlight some of the more promising short trades soon in addition to adding some new trade [...]
HAIN (Hain Celestial Group Inc) will trigger a short entry on any move below Thursday's low of 84.79, which will confirm a breakdown below this symmetrical triangle (daily chart). As the weekly chart below illustrates, a more powerful, longer-term sell signal on HAIN will come on a weekly close below the multi-year primary uptrend line in the stock which makes up part of a very large bearish rising wedge pattern, complete with negative divergences on the PPO & RSI leading up to the January 21st top in the stock. click here to view the live, annotated daily chart of [...]
The following trade ideas have been removed from the Active Short Trades categories as they have either exceeded their previous suggested stops (or any reasonable stop, if none suggested) or the stock simply no longer looks to offer an attractive R/R at this time. Some of these trades may have already hit one or more profit targets while others did not. Most trade ideas on RSOTC are immediately removed from the Active Trades category upon reaching the final profit [...]
Below are the updated daily & weekly charts for the HAIN short trade posted just before the close today. Note that the shaded price levels at the end of some of the horizontal lines on my charts are the levels of the horizontal lines, not the suggested price target. Price targets on short trades are typically placed slightly above the actual support/expected bounce level in order to minimize missing a fill, should the stock reverse just shy of support. Ditto for long trades with price targets placed just below the actual resistance level. The prices targets for HAIN are T1 at [...]
HAIN daily Feb 7th Trying to get this one out before the close so more details & exact target levels to follow. HAIN offers an objective short entry here on this backtest of the recently broken uptrend line.