Hi Everyone, we discussed this stock in our us energy stock screencast and identified that this was a short setup to keep an eye on.
Only a few days later now it has slipped sharply down and now rests on our lower trend line. We're going to start watching for signs of breaking down on a lower time frame. If it retests and is rejected the we will be taking a short position.
If you aren't in this trade already then it's worth waiting on a lower time frame like this and waiting for it to break the trend line before making the trade