VIPS is showing a shooting star pattern on decreasing volume, as well as RSI and MACD overbought signals.
Enter short, setting stop loss halfway up the wick (13.75). Set price target at either the smaller 12.60 resistance level or the major 12.00 resistance level, if you're more aggressive.
Enter short, setting stop loss halfway up the wick (13.75). Set price target at either the smaller 12.60 resistance level or the major 12.00 resistance level, if you're more aggressive.
Operación activa:
VIPS broke support at end of day so I'm active in this trade.
Operación cerrada: objetivo alcanzado:
Using PUT options I realized a 50% gain on my investment. While I could have stayed in this play longer, I felt that the ROI for remaining in the play was not as good as other investments. I sitll believe it will retract to 12.01, but not as quickly, which would have eaten into my option profits.