the Yuppie Pig

Here's 5 technical short setups. A few words of warning are warranted here as the market sold off drastically today. A corrective upside bounce could occur at any time and in these situations, it is not uncommon for stocks to make a quick move down, potentially breaking support and then subsequently the market rallies hard in a bounce taking stocks back above the support price. For that reason, either wait for the market to work off its oversold condition before entering these trades, allow them to play out, cognisant that a wide stop may be needed, or if the market rallies here, enter the positions as they reach closer to the suggested stops and scale into these positions. These choices depend on your own portfolio and risk tolerances.

I've put in the target price using calculated measured moves, however some of these are below logical support areas. I would first expect bounces to occur at these areas prior to making the full measured moves. I've also highlighted possible support areas on these charts.

If you find these charts useful and want more of these charts in the future, sign up for emails here.