Here’s another chart for Luna, Phoenix Technologies. The stock looks like a better short than long to me right here. I could see shorting it under $8 with a target of the 200 DMA, which is near $7.20 right now. The support around $7.8 would probably stop me from trying that trade though. I’d much rather try to short it on a rally back to the blue trendline and/or the 50 DMA. PTEC also looks like it’s building a descending triangle. If that’s the case, we just have to wait for that triangle to be broken and play the direction of the break.
