NEW BEARISH Plays
Harsco Corp. - HSC - close: 24.69 change: -0.70
Stop Loss: 25.40
Current Gain/Loss: unopened
Entry on February -- at $--.--
Listed on February 24, 2014
Time Frame: 6 to 8 weeks
Average Daily Volume = 447 thousand
New Positions: Yes, see below
Why We Like It:
HSC is in the basic materials sector. The company provides industrial services and products. The stock rallied last week on February 20th following a generally positive earnings report. Unfortunately there was no follow through higher and investors sold into the rally with a sharp reversal lower.
Today's low was $24.44. I am suggesting a trigger to launch bearish positions at $24.40. If triggered our target is $21.50. I do expect shares to see short-term support near its February low ($23.21) and the $22.00 level.
Trigger @ 24.40
Suggested Position: short HSC stock @ (trigger)