NEW BEARISH Plays
Vistaprint N.V. - VPRT - close: 28.61 change: -1.20
Stop Loss: 30.25
Current Gain/Loss: unopened
Entry on November xx at $ xx.xx
Listed on November 14, 2012
Time Frame: 4 to 6 weeks
Average Daily Volume = 364 thousand
New Positions: Yes, see below
Why We Like It:
Shares of VPRT have been consolidating along support near $30.00 for almost three weeks. That was until today. The market's widespread decline helped push VPRT over the edge. The stock underperformed with a -4.0% drop. This should herald the beginning of a new leg lower.
I am suggesting small bearish positions at the open tomorrow. We'll use a stop loss at $30.25. Patient traders may want to wait and see if VPRT bounces and then try and launch new positions on a bounce in the $29.00-29.50 area.
Suggested Position: short VPRT stock @ (the open)