$CANF Case Study – Shorting Too Early

by akos on November 18, 2014

All right…….

One of the heavy hitters in our chat room shorted $CANF very early and played it bad a bit.

 

Click to enlarge!

CANF_case_study

So the dude shorted at 3.81  on 19th hopping that it would crack just like it did the day before. I guess he was hoping the main crack at 3.50 which it almost tested but never touched. On the 20th $CANF stated climbing and topping, putting in 2 tops on the day at 4.25. That was another sign of weakness. On the 21st $CANF charged right out of the gate where he was forced to cover at 4.26 when it broke out from the channel it had been traded in the previous 3 days. It would have been a solid trade but the way I see it that this chart was NOT overextended and it looked bullish.

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