ARB - The Bearish Case Scenario

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Now that we have posted the bullish case scenario for ARB lets examine the bearish case. After we made a new high around $1.82 and had the first major drop, ARB did create what appears to be a bear flag. Price even came back up and retested the bottom of our bear flag as old support flipped into new resistance. If this scenario plays out we would be looking for a $1.50 price target.