Saturday, December 24, 2016

New signals 24-12-2016 $JWN $RHT

Happy Holidays everyone,

The last few days were pretty quiet, I guess most traders on Wall St. are already on their holidays.

There are two new Sell signals for the next trading session:

$JWN (Nordstrom Inc) as you probably have already noticed, retailers were hit pretty hard lately, as much of the retail shopping in the holidays is going online.
$JWN's last closing price was $48.75, as of December 23rd.
I would enter a Short position at the next trading session with a stop-loss at $49.99 (risk: 3.7%) and price target at around $45 (reward: 6.9%). A nice risk: reward ratio of 1.9.

$RHT (Red Hat Inc)
Is just technically broken after its gap-down of some 11%.
Would not touch it in the near-term. Some lower prices are possible, and according to Fib retracement the next drop could take it 65.69. If I would enter a Short position in the next trading session I would definitely place a stop-loss at the 50% Fib retracement of $71.99.

To see general results of the algorithm click here.
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