I was running some scans and education stocks jumped out at me as looking particularly weak, despite their last few days of gains. Let’s look at COCO, but you can look at any other stock in this sector (APOL, CECO, DV) and you see the same patterns of lower highs and lower lows. Even after it’s recent bounce off it’s 200 ma, it’s most likely going to find resistance near it’s 50 ma.
If you’re looking for an edge to play on the short side consider this sector. Observe that volume is declining and scaling in next week on market weakness, with stops at it’s 50 ma would be low risk with decent reward.
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