ITV

Here's another one to watch for the nest day or two:



dl.dropboxusercontent.com/u/20815047/ITVdaily24_04_13.gif

Either short this short term trendline with a tight stop above 131p (the first lower high) or go long on a breakout of the same trendline with a stop below 120.5p.

It has broken its uptrend from Nov lows (just like the indices) but it's also made a (slightly) higher low since 9th April. Take your pick. Either way, stops are nice and tight with good risk/reward potential.

-Engulfing Bear
-negative divergence RSI and near to overbought area
-first target –gap support at 87.00, second at the trend line at 78.00 as for today
If you were about to short this one where would be the best entry point?
wait for 50% retrace like with doji or at the break of low of Engulfing Bear pattern?