Short Wall Street - Trading Diary

My name is Oleksandr Yanchak, I am an active investor and short seller.
MAXN - Maxeon Solar Technologies Ltd.jpg

Good short deal in MAXN . 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

Similar threads