EL short: mean reversion to monthly trendline

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Estee Lauder Companies, Inc. (The) (NYSE:EL)

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NYSE:EL Estee Lauder Companies, Inc. (The)

trendanalysis el trendlinebreak parabolic

EL has broken out of monthly trendline and formed a new steeper trendline. The steeper trendline has broken downward and monthly trendline will be re-tested.

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Trade should be taken tomorrow morning if new lows are made vs yesterday.

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No new low made / trade cancelled for now

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glad we didn't take that trade, new ATH today

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6/18 daily bear div completed and weekly bear div on progress. Should have seen that 6/18 bear div it could have been a short opportunity. Now we should watch for a H&S forming with neckline around 147.6, could be a short opportunity.