Air Transport Services Group, Inc
Short
Updated

ATSG Short trade on break of upward trendline

112
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:
  • 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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