SSS - Review of SSYS, CELG and V Short-Sale Set-Ups
Keep in mind 3-D Systems (DDD) announces earnings tomorrow - this could set up a shortable rally in SSYS, which we previously reported on in early April as an SSS set-up near its 50-day moving average on a prior rally at that time. SSYS is currently looking like it is set to undercut the low of ten trading days ago at the 93.70 level.
CELG was discussed in our Pre-Market Pulse report as shortable on today's rally using Friday's intraday high at 144.77 as a reference point for a stop. The stock is rolling over and turning red at the time of this writing.
V gapped down below its 200-day moving average on Friday and was discussed in this morning's Pre-Market Pulse report as shortable using the 200-day moving average at 203.58 as your guide for a stop. In most cases setting a stop 2-3% above the moving average can work, although some may opt for a higher threshold of 5%.
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