ShadowTrader Free Trade Idea of the Week – OMF – Short…

Onemain Holdings, Inc. (OMF) – Short
Entry – 31.61
Stop – 33.55
Target – 26.80

In the first week of this year, OMF gapped up and out of the top of its 21 month range.  The stock failed to follow through higher and last week moved convincingly back under prior highs.  Anticipating that the longer term price pattern will continue, we’re looking for OMF to continue lower and fill the open gap.  Given the entry, stop, and target levels noted on the chart, this trade offers a 2.50 to 1.00 reward to risk ratio.

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