Consolidation Short 10/17/16 SRPT

On the daily chart above, SRPT broke below a 3 day consolidation low on 10/17/16. We were alerted to SRPT off of our consolidation breakdown scanner. There is also a wide gap between the 20 EMA and the 50 EMA, leaving plenty of room to fall.

The trade entry was a penny below the 3 day low at $52.15 as seen on the 5 minute chart above. SRPT quickly dropped $3.34 within 25 minutes.

The SRPT Consolidation Short was a great alert off one of our many scanners. If you would like to be alerted to trades like these, we offer a 7 day free trial.