For a long-term trade DRN is not a great shorting stock. It closed yesterday at $10.01 so there is not to much further for it to fall. But with the gap down on higher volume a quick short could be on the cards.
Price has just managed to close below the 2001 pivot low of $10.20, but remains marginally above the $10 round number and I would've liked to have seen a more bearish bar.
If there is further weakness today this could well trigger a position. The next support level is $5.59 (2008 pivot low) so there is room for a downward move, at least in the near-term.
Price has just managed to close below the 2001 pivot low of $10.20, but remains marginally above the $10 round number and I would've liked to have seen a more bearish bar.
If there is further weakness today this could well trigger a position. The next support level is $5.59 (2008 pivot low) so there is room for a downward move, at least in the near-term.