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Origin Agritech (SEED) : Double top neckline broken

|Includes: Origin Agritech Limited (SEED)

One of my favourtite penny stock as well in the past. Double top has formed and neckline $9.59 has broken on Friday. I would look for an opportunity to go short after the rebound reaction at the $9.59 region. It looks as if it is going to rebound on Monday. Take note of the past volatility and the stock could rebound quite fiercely. Short positions should be entered once the rebound fails.

6 Feb Chart Origin Agritech

Disclosure: No

Disclosure: no