Blowoff top in I art - SHORT

I am in the market for stocks who have rallied hard and are now extremely overextended and vulnerable to a corrective sell off. IART is one such candidate. Anyone long in this trade is probably in the money and not wanting to lose a good profit. Punters may be wanting to buy hoping for another strong advance that will not materialise until a correction takes place. In any case, there is a cluster of stop losses below current levels that are likely to trigger a cascade of selling. This I believe is the most likely scenario. There is a chance that buyers may push price higher but that would only offer a more favourable risk reward scenario.

تعليق:

Over the last 10 trading daws momentum has slowed and the stock is showing signs of rolling over. Time will tell.