X is a great trading vehicle, and it looks to be the high has been put in for the year, unless it can break and hold $55. X is heavily damaged from last week's high volume sell off, and I believe it has more room to go down. Wait for the gap fill at $55 to short, although entering at $54 may not be a bad idea. $43 will be key support so pay extra attention to that area. Weekly chart suggests a right shoulder may be forming. If $43 breaks, target to cover will be in the low 20's.
Did you use stock fetcher before. It looks like a good screener. I am trying to test different options like EMA crossovers.
ReplyDeleteJim.