FSIN Coming In To Range Again

The last trade on FSIN yielded nearly a 40% return and this without even breaking the major top in place. Now FSIN is nearing our last entry point around $7.20, I would keep this one on the radar.

 FSIN's multi year top pattern. Remember that tops often break and then retrace to enter the top region once again-it's precisely these set-ups that I look for as we've already broken the top and have under went the retrace, which sets up the next leg for a serious move down. However, because FSIN can really put in a high % performance (that cuts both ways), risk management s essential. The top pattern suggests FSIN could see a target in the $1-$2 range eventually, but risk is always the first priority. I'd like to see FSIN around $7.20 again for an entry.

 Here's the upside reversal on a 3C positive divergence and high volume (capitulation-often seen at reversals).

The 5 min 3C chart has been going negative ever since FSIN crossed above the long term top's neckline.

I'd like to see some additional timeframes show this depth of divergence, but this position is worthy of consideration even here, so long as you leave room to add on a wide stop. Or you can just wait for a more sold signal. FSIn continues to be a favorite short position on my list.