Top 5 Weekly Trade Ideas #2 - RKT Bear Flag
RKT was recently on the top 5 list, that one was a bullish idea that worked out nicely. We've seen some of the rate cut hype start to fall recently and RKT has gone down with it. So far it has held within its bull flag from the previous idea and is holding up, but now we have a shorter term bear flag as well.
If the bear flag breaks first downside target would be the bottom end of the bull flag and then the previous swing low around 14.75. Stop loss above the top end of the bear flag.
If the bear flag breaks first downside target would be the bottom end of the bull flag and then the previous swing low around 14.75. Stop loss above the top end of the bear flag.
Short Thesis:
advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky, most traders lose money!
advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky, most traders lose money!
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