When a stock gaps down and has continuation like WHR did in the chart below, it usually is a good short when it pulls back to the EMA. But if the pullback has a steep slope, like WHR had, there is too much buying pressure to short it.
Now look at JCP below. Gap down, continuation weakness, and then a very shallow slope that doesn’t even get to the EMA. That’s a stock you want to short for a daytrade.