This is the kind of weak stock you may choose for shorting today
This is the kind of weak stock you may choose for shorting today.
$FLNC
One reason you may consider some short candidates is that $SPY (and a few other market ETFs) are near Memory trendline resistance.
Now, about the stock $FLNC.
Its industry is among the bottom 20% in the score and the top 20% in deceleration. The industry is down as of the morning session.
The stock is overvalued with negative earnings growth (3-star weak stock). It does not make money (EPS is negative). Funds do not seem to be interested in the stock now. It is down by more than 5% in the morning session. 81% of peer stocks are down.
The stock is displaying the unique Headwind reversal signal at Price Extreme High and also showing a bear Release signal. It may create a false upside breakout both in daily and weekly. Weekly is displaying a bearish Indecision.
You may watch for the Headwind reversal setup to be confirmed by the close. Or, try to short it using Precision Entry chart during the day.