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Urban Outfitters as a Swing Trade Short Setup

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October 22, 2012 – Comments (0) | RELATED TICKERS: URBN

Trade in Urban Outfitters (URBN) at $36.32 - Swing Trade

I had a user bring up Urban Outfitters  and after looking at it, I couldn't help myself, so I went ahead and shorted this stock as a swing-trade. 

What I really like about this trade setup is that it is breaking below key support at the 36.48 (the closer that you can get in at that level the better). Below that level, you have nothing. Absolutely nothing but space in the form of a gap that is unfilled.

Also going for it is the fact that it has a lower-high already in place, and with the break in support, it is now pushing a lower-low on the price patterns, and confirms a downtrend as well. 

Here's the URBN Swing-Trade Short

 

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