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Shorting time

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mikki
Contributor
I am looking at possibly shorting M&R from current levels. There is a negative divergance looking at the Stochastic and RSI. The 200 day is also looming above as well as resistance at around 4280. Whatcha think?
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2 REPLIES 2
divz
Super Contributor
IMO MUR has been trading sideways to up on the weeklys. If you trading the channel yes it is hitting resistance so could come back off that but i would rather wait for a long at the bottom of the channel around 4000 than taking the more riskier short option.
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Rams
Super Contributor
Agree with divz.Wait till goes below 4109.Negative divergence??Look again at 6 August; 4275 was not a high;4279 on 29 July was higher.Momentum will follow price.what do you think.
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