This is where you Short into Resistance
I finally took a trade today. There were about six stocks that I was looking at getting short on. They were ETFC, EXPE, OHI, TTI, INVN, and of course the one I just got short in and that is Ball Corp (BLL) at $42.32.
The huge appeal to shorting this stock is that I can keep the risk well contained. There's a beautiful head and shoulders and if price goes against me, it will have to rise above the right shoulder at $43.05 for me to be stopped out.
In terms of target price, I see an ideal place to take profits at around $40.00, or in my case $39.90.
This trade brings me to three total shorts (first time that has been the case probably in months), and 1 long which is AAPL.
Also, remember that BLL reports earnings on October 24th.
Here's the chart setup in BLL.
Short: Ball Corp (BLL)