Wayfair looks like a simple short ahead of earnings IMO
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Looking at the chart it appears to have topped out in the descending channel, also correlating with the high ahead of their prior earnings - I'd at the very least look for a nice give back leading up to their earnings.
Reasons why:
-Insider Selling
-Mass layoffs not going to bode well for sales regardless of being internet based..
-Not profitable
-Debt
**My opinions only, not trading advice.
W
Reasons why:
-Insider Selling
-Mass layoffs not going to bode well for sales regardless of being internet based..
-Not profitable
-Debt
**My opinions only, not trading advice.
WNote
Candle setup from previous drop in October has similar candle as today... Note
Boom goes the dynamite. In short signal I trust.
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