Trade Idea-CNQR (short)

Here's another to add to your watchlist, CNQR.

 These two charts are long term 5-day charts to filter out noise and reveal the trend.  This s a 50-bar average.

Here we see the complete trend since March of 2009 through a linear regression channel, obviously something has changed for the worse for CNQR as it had been trading in the upper range of the channel until a recent breakdown. MACD has shown a consistent deterioration in the momentum of the trend and is now negative. This scenario falls under "Kiss the channel goodbye" and I'd personally like to see CNQR trading just inside the channel, somewhere around $53  or so, at that point (if it makes it there), we can look for negative divergences setting up the tactical entry. It's a significant thing when a 2+ year trend breaks its channel.