XYL seems breaking down underneath Resistance, and seems forming a flag formation. Downward volume is increasing & moneyflow is going down as well. We think if it can break below $46.63 it can go all the way down to $40 area.
* Trade Criteria * Date first found-February 9, 2017 Pattern/Why- Resistance breakdown, Inverted flag formation Entry Target Criteria- Break of $46.63 Exit Target Criteria- $40.63 Stop Loss Criteria- $49.13
(Note: Trade update is delayed here.)
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February 21st- Went up & tested MA20, Did not hit our entry yet, and not showing any weakness. However keeping in watchlist for few more days.