This is very similar to a previous update that worked out well shorting SPY. The parameters to short are very similar, the current level up to 206.
A rise above 206 puts in a higher high to the February high and risk should be managed in that case. That is a nice, tight stop loss with low risk.
The downside target is noted, at 189.
Sell Short: Current level up to 206
Sell Target: 189 is measured, take profit as deemed acceptable
Stop Loss: Above 206, as suits risk tolerance (taking into account whipsaws, like the bears just got yesterday on the breakdown prior to reversal); i.e. could pop above the January high and quickly reverse.
A reminder that chart based NFTRH+ updates are just trade setup ideas, which may not be revisited as the parameters are already noted. They are meant as a starting point for further research if interested. Fundamentals-based ideas are also provided for your further research only (I am not a fundamental stock analyst). I will not personally buy every item highlighted and will sometimes sell – without prior notice (because this takes time and resource away from NFTRH’s main functions) – any item that I do buy, below target, which is something I often do as a trader.
