Are You Short This Stock? Here’s An Update…
I
mentioned a short opportunity in AEOS in the last trading week on
this column. The stock has sold off from $29.50ish down to $26.60. It has
encountered a daily Fibonacci price support zone from 25.89 to 27.02 along with
the 50 day simple moving average. This is a critical decision for our short. If
we can get a daily close below $25.89, then I’m banking on a move down to $22 to
hit around the 200-day simple moving average. Of course, if we can not push
below that $25.89 level, then short positions just need to be aware that the
“danger zone†price for shorts is $29.10. If we get a daily bar close above this
price then I’m moving out of the short position, because price is communicating
that we are headed up to the $32 price level soon.
 
So there are your parameters
for AEOS if you’re working the short.
Have a great weekend and a
peaceful, introspective Easter.
Derrik Hobbs