Lumentum Holdings (LITE) has rallied right into its 50-dma in a big, complex H&S type of formation. This one is simple: short here and use the 50-dma as your stop/covering guide, with an additional 1-3% based on your own risk tolerance. Earnings are expected next week on the 29th, so look for a swing-trade to at least the 20-dema if the general market starts to roll over here. Remember that shorts will tend to work better within the context of a market coming down.
Short-Sale Set Up - Lumentum Holdings (LITE) 10/22/19
|Published:||22 Oct 2019 13:34 ET|
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