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Revisiting ASAN short side bearish divergence

업데이트됨

In late June, I identified a bearish divergence and targeted the mid to low 50's. This clearly didn't come together, and quickly became a broken trade for a loss -- but what has remained is the same bearish divergence -- RSI making lower highs while the stock makes higher highs. And now we could be forming a rounded top. With earnings around the corner (sep 1?) I could see this consolidating and making it's move post earnings, but it seems to be very tired here. I'm taking another shot going short with a small position on the sep 80 puts; still targeting that 50 area.

코멘트

increasing position this mornin - adding to the sep 80 and also adding oct 60s. the high/low reversal today near previous highs and the continued bearish divergence suggest to me this may be getting closer to breaking - maybe even before earnings.

코멘트

the 4H chart here shows a possible bearish rising wedge as well. one could adjust the uptrend line to make it less aggressive - or accept this trendline has broken. either way there is a lot not to like here.