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UEIC Trade Update, Support Taken Out

After a week of dancing along the top of S1 support level, the UEIC (Universal Electronics) active short trade has finally taken that level out with conviction, opening the door for a continued move down to the first target level. While the stock still provides an objective short entry at this time, consider using a stop lower than the current suggested stop of 80.42 if initiating or adding to a short position here. Previous & updated daily charts:

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Aug 31, 2016 11:34am|Categories: Completed Trades - Short|Tags: |Comments Off on UEIC Trade Update, Support Taken Out