RNDR Short

27 thg 4, 2023

Shorting RNDR for a potential return of 40%. First off what drew me to enter shorting RNDR was the recent increase in price over the past two weeks. it has had a gain of over 50%. since the gains have been so big over the past two weeks i feel profit taking is about to begin when looking at the daily time frame. This idea is Supported by the bearish divergence, noted with a yellow ray, on both the Commodity Channel Index(CCI) and the Relative Strength Index(RSI). Although the 40% correction sounds tempting. I am looking for a more short term opportunity so I can reduce the likelihood of loosing money. with takin that into consideration I am looking to short to a range of $1.80-$2.00. This will yield me approximately 20-25% return on a $4000 short with translates to approximately 1000 profit. If I am right about the direction. The amount of time this short will take looks like it could be anywhere between 1-2weeks open.