SSS - SOHU - Discussion of Downside Price Targets
If you were using the intra-day high of yesterday at 82.55 as your stop on a short position in SOHU and are still short the stock, this is how your price targets shape up: your first low is the July 12th low at 72.70, which could always cause a short "undercut & rally" of that level. If that does occur, and the rally quickly loses steam, then you are looking at the June 20th low of 64.77 as your next area of undercut support. It would make sense that SOHU would try to bounce on an undercut of the 72.70 low, since there is an area of congestion that could serve as short-term support as the stock traded between the 65 and 72 price levels through most of June.
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