Wednesday, November 22, 2017

These Charts Break Above Double Top But Can Be Shorted

Just two weeks ago, the market was collapsing as Russian tension rose. Many sectors and specific stocks were punished far more than the overall market. Quite a few of these plays have rebounded and are now breaking above their former highs. What investors need to understand is that if these plays took a larger hit in the last mini market pullback, they will again be smoked when the markets have a small drop. In other words, investors ran for the hills more quickly in these names and are still skittish. Here are a few of these names that can be shorted in this upper range.

1. Intel Corporation (NASDAQ:INTC): Double Top: $34.85. Current Pice $34.96. Shorting Level: $35.25.

2. Microsoft Corporation (NASDAQ:MSFT): Double Top: $45.75. Current Price: $45.16. Shorting Level: $46.05.

Gareth Soloway

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