ATSG Short trade on break of upward trendline
ATSG recently broke its major upward trendline, creating a short trade possibility with a small risk and high reward.
Two targets are set for $10 and $6.50 as the big target, however like most trades it's better to let it run and trail a stop behind
Factors leading to the decision:
As always, use a tight-stop and if it rips down, let it run and trail stops behind.
Two targets are set for $10 and $6.50 as the big target, however like most trades it's better to let it run and trail a stop behind
Factors leading to the decision:
- Price recently broke below the 1-year uptrend trendline
- Heavy volume as it broke the upward trendline
- After breaking down, price came up to re-test the trendline and was rejected
- After falling below the 20-ma, price tried to get above it again and was rejected
- The recent high fractal offer great places for tight technical stop
As always, use a tight-stop and if it rips down, let it run and trail stops behind.
Trade closed: stop reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.