Exhausted upside move found a short term top and started to retreat. Potential targets are half of the projected consolidation area and its bottom.
There is no strong rejection to suggest that the sellers are back. Most likely the consolidation would go on until the stock earnings.
Depending on one's view on the market short and long positions could be established. Considering the bullishness it is less risky to seek long entries on pullbacks.
I would consider shorting this market after a damaging news triggers a sell off across the board. As I mentioned before this stock is first to buy and first to sell.
10/15/2019
There is no strong rejection to suggest that the sellers are back. Most likely the consolidation would go on until the stock earnings.
Depending on one's view on the market short and long positions could be established. Considering the bullishness it is less risky to seek long entries on pullbacks.
I would consider shorting this market after a damaging news triggers a sell off across the board. As I mentioned before this stock is first to buy and first to sell.
10/15/2019
