Position: Long term short near $30
Resistance: Clustered from $26 (major) to $27 andthen $28
Support: $24.50 (major), $23.50, $22.50
Status: Recently broken down after failing several times to overtake major resistance at $30. On the daily it has failed all three moving averages in rapid fashion, sending it into shor-term oversold. On the weekly its just starting to roll over. $26.20 is a major resistance line but if it's overtaken then I anticipate the confluence of moving averages near $27 will prove to be a stopping point. Yesterday there was some interesting options activity in this stock as well as BBBY, another one of my long term shorts that I will update shortly.
