Open short in MAXN [Maxeon Solar Technologies Ltd]

Hallo!

Good short deal in MAXN [NASD]. Maxeon Solar Technologies Ltd it is an unprofitable company with a capitalization of 270 million USD. A good factor for the deal is the large average trading volume, which is almost $1.5 million.

The dynamics of the company is constantly falling, and there are almost no chances for growth. It is a company from the solar energy sector, which in itself is not relevant in this phase of the market.

The company does not pay dividends – this is good. And the company prices is at its historical lows.

From the technical side, there is a clear level at 5.70 from which you can work. And there is a retest of the level that reinforces the sell signal.

There is a tightening of the maximums of the bars to the bottom. What is important – there are no gaps and paranormal bars.

I took a short position at a price of 5.38, a stop loss at a price of 6.11 and a final take profit of 1.73.

Thank you for your attention, write what you think about such a trade

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