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5 Attachment(s)
ICPT Short a bounce
ICPT has been a high-flyer biotech stock.
It broke down some days ago.
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Both the stock and the sector are not too good. In terms of pyramid data
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How do we trade the short side: on a breakdown below $150 or on a pullback?
We can see below that shorting a breakdown did not work in the past. I believe that a push down has been attracting buyers and the stock reversed up.
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The best is hence to short a bounce.
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A sensitivity analysis on the entry price shows that shorting between 157.5 and 163 is acceptable.
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