FOSL - Short Candidate #TriangleDescendingPattern #ShortFossil
FOSL is currently in a Triangle Descending pattern.
--Bearish--
--Bullish--
--The Plan--
Waiting for it to confirm trendline, and upon retracing will enter a short position through a hedged options strategy.
Will be seeking to hold short till earnings, and will seek a price target of $11.50 prior to earnings.
--Bearish--
- Triangle Descending Pattern
- Short Float - 36%!!!
- Weekly RSI
- Weekly STOCH
- Macro Environment
--Bullish--
- Daily RSI
- ...
--The Plan--
Waiting for it to confirm trendline, and upon retracing will enter a short position through a hedged options strategy.
Will be seeking to hold short till earnings, and will seek a price target of $11.50 prior to earnings.