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

Petmed Express, Inc. (PETS) – Short
Entry – 35.22
Stop – 38.62
1st Target – 31.85
2nd Target – 26.75
3rd Target – 24.42

While the major indices continue to make new highs, PETS is struggling.  The stock has flagged off it’s break lower in August and last week’s price bar ended with a bearish look.  An undercut of last week’s price bar may trigger the next move lower in PETS.  The gap between 26.75 and 24.42 remains open and is the ultimate target for the play.

Please note, this week’s trade plan is based on the weekly chart and therefore involves wider stop, entry, and target levels and likely a longer holding period.