CBM broken down a long term wedge formation, retested its resistance & now falling down again. We considered an entry at the re-test of the resistance area, around $49.90 label. It has good insider selling, we think it has very good downside potential, and it can decline down to $25 area.
* Trade Criteria *
Date First Found- November 7, 2017
Pattern/Why- Rising wedge formation breakdown
Entry Target Criteria- Break of $49.45 (Hit November 7, 2017)
Exit Target Criteria- $25.23
Stop Loss Criteria- $51.53
Please check back for Trade updates. (Note: Trade update is little delayed here.)
* Trade Criteria *
Date First Found- November 7, 2017
Pattern/Why- Rising wedge formation breakdown
Entry Target Criteria- Break of $49.45 (Hit November 7, 2017)
Exit Target Criteria- $25.23
Stop Loss Criteria- $51.53
Please check back for Trade updates. (Note: Trade update is little delayed here.)
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