Entered this trade to short CDL during the last hour on Friday. It experienced a severe selldown in January, before it hit a support level @ $8.70. The stock throwback for 4 days in a row from then. Just taking my chance for hit-and-run play as CDL has range. Since it has throwback for 4 days in a row, I went in to short, with the initial stop loss set at $9.50. Taking a bit of risk here, but I think its throwback should be about done, and the drop/ consolidation period will come soon.
Shorted @ $9.23 near the day high.
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