HEG weekly chart study- Bulls party over! This doesn't mean that bears are going to party.
Here is what we can deduce: 1) Parabola broken. So those who did not book profit can book completely. 2) No fresh buying. 3) No shorting until we see a close below 200 day SMA and channel breakdown.
@trading-noob, ok and how will u do that apart from intraday and if intraday - dnt u think its foolish to short such a volatile stock on intraday basis. and in case u do that what will be ur sl , please enlighten me
trading-noob
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@thoughtfullinvestor, If you read carefully, i just observed that it is attractive to short.No where did i say I WILL :)
Btw just saw that HEG does not have Fut's. So ya ..i will not be looking to short right now. It is just that it will be on my radar and i'l keep tracking it.
and as @trex88 mentioned, would be wise to wait for a channel breakdown to confirm its downtrend... im sure it will have few good intraday shorting days once it is confirmed to be in a downtrend.