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Community


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Online Share Trading

Engage and learn about markets and trading online

EXX

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Brommie
Frequent Contributor
Any thoughts about going short on Exx for a day or 2?
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6 REPLIES 6
Rovert
Super Contributor
technically mega overbought but so are many other TOP40 shares. Too risky IMO...tried shorting OML too many times...lesson learnt. As Simon says..why short something thats going up
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Rams
Super Contributor
Why do want to short...is it only becos its overbought!
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sponono
Super Contributor
best way to short a stock is to short an underforming stock at a lower high but wait for confirmation first. never short a stock just because the price seems too high because it can go higher. My estimate is that Exx can go as high as 215-220.
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Brommie
Frequent Contributor
I can not see Exx continuing upwards without a correction. But I agree, going against the flow is very, very risky. I do not want to short just because it is overbought -Exx has run too far and too hard. And then there was the statement that 'n projected shareprice would be 18800 in a year's time. Maybe a short from 20650 to 20150 might pay of?
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Brommie
Frequent Contributor
Tanks, Sponono, I will give some thought.
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WES
Super Contributor
Technically it broke above 19950, which was very bullish, I sold out at 20450, will not short it, buy back on reversal
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