WU Follow Up

I featured WU Wednesday this week and ever since it's been behaving badly with ZERO relative strength.

Here's an updated playbook on the possible short trade (see the linked post above for the reasons I didn't/don't like this stock).

 The top formation is there and prices are close to a support zone, I'd anticipate a bounce of that level, although there is a slim chance it will just slice through support. I'd prefer to short this on a bounce so if it bounces off the trend line, I'd be paying attention.


 This more or less is a definitive sell signal. The bounce could hit the yellow/blue moving averages, but I'd expect if it does bounce, it'll be higher which is better for a short entry.

The red trendline is approximately where I'd expect a bounce to run to, possibly creating a mini-triple top, but I think more likely a descending triangle.

If you like the trade, maybe put some price alerts on it and feel free to email me any time.