Sagar Nandi

Technical short setup in asset management stock.

Today market is down. And down significantly as of 1:10 PM EST.

When the market goes down, even relatively strong fundamental stocks go down. Especially those that are near their highs.

Using CUE Sonar real-time search, you could find a technical Go With Flow trend following short setup in the daily chart in BX.

Valuation is medium. Earnings growth and dividend are not weak. The industry is relatively strong. However, it is still down (very few industries are up today).

Several Financial industries are up today. But BX's industry, Asset Management & Custody Banks, is not one of them. CUE Scorecard shows that 75% of the stocks in this industry are down today. Average drop is by about 1%. BX is now down by more than -3%.

The Fine Tune 5 Min CUE chart markings show that it gave a Gap Short setup near open and also, priced opened below Memory support. You could short at point 1 and put the stop at point 2 (Early Range High). It has covered more than risk distance by now. And day traders could book partial profit.

BX is therefore giving/gave a swing short as well as day trade short opportunity that could be taken easily using CUE Sonar program.

BX chart 2018-10-04_13-05-40.jpg  BX edge 2018-10-04_13-15-59.jpg  BX vital 2018-10-04_13-14-41.jpg 

Sagar Nandi
Within a few days since the post (point 1), BX hit Lower Boundary (point 2) which was the profit target. CUE traders would book profit in the trade.

Bx Exit 2018-10-12_9-02-11.jpg 

Disclaimer: This site is for educational purposes only, explaining the use of CUE systems and techniques. It is not for trade advice. Trading involves risk. You and only you are solely responsible for the outcome of your trades.

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