First stock we’re looking at here is GGC. This pattern has not triggered a short position yet but appears that it could become a very profitable trade on the short side. Currently price is consolidating in a descending triangle pattern, if price breaks down the 5.75 support level there isn’t any support until around $3/share leaving lots of room for this to run for the bears. If price breaks down 5.75 i want to go short GGC.
Second stock were looking at is PNK which has been quite volatile to the downside. After a short term consolidation it appears its on its way for another leg to the down side with todays breakdown of the descending triangle. I’m gonna go short on this Friday.
