HLT seems forming a double top formation with negative money flow divergence. It also has heave insider selling. We think it has strong downside potential.
To play this we would consider July $75 Puts @ 2.27
* Trade Criteria * Date First Found- February 27, 2018 Pattern/Why- Double Top formation Entry Criteria- From current level ($80.40) (Hit February 28, 2018) Exit Criteria- $68.74 Stop Loss Criteria- $88.42 Indicator Notes- Twiggs money flow index declined sharp below zero. Special Note- Heavy insider selling. We would Consider July $75 Puts @ 2.27
Please check back for Trade updates. (Note: Trade update is little delayed here.)
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