Bears Make 17% on $FTK
/Traders who shorted Flotek Industries $FTK made a nice 17.09% profit in 3 days.
On 3/04 Endeavor's Early Warning Signal (red diamond) identified the potential for a substantial dip in price on $FTK. The signal predicted if price crossed our Trigger Point (red line) of $3.16 it would dip 5% or more in approximately 15 days.
One day later on 3/05 price pushed down crossing our Trigger Point which confirmed the signal.
Today's price fell to a low of $2.62 making 17.09% from our Trigger Point in 3 days just as predicted. Daily volume was 1,467,505 which is in line with its six month average volume of 1,151,378.
Early Warning Signals can identify when the price of a stock, ETF or REIT is either overbought or overextended on a technical basis. This causes a pull back or dip in price that can vary in severity. By predicting the move ahead of time, traders and investors can profit by applying strategies that fit their unique styles. Securities traders can short shares, options traders can buy puts and long-term investors can prepare for the movement, so they don’t overreact.