When to cover back shorts?
Sent: Wednesday, February 24, 2016 9:41 AM
Subject: ************** Global Logistic: Beware of potential reversal lower on close below 1.77.... price 1.76
Subject: ************** Global Logistic: Beware of potential reversal lower on close below 1.77.... price 1.76
We has seen some profit taking yesterday on Global Logistic hitting above 1.80, and with it closing lower forming a Bearish shooting star. Any close below the temp 1.76 – 1.77 support can lead to a potential retracement back to 1.70 support level. Given the rise we have seen over the past few days, would be a good time to take some profit along the way too… Only a convincing move above 1.80 will invalidate our short term bearish scenario.
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