Whiting Petroleum (NYSE:WLL) is up over 150% since February 2018 due to a short squeeze based on crude oil spiking higher for most of 2018. With the bulls in full charge and the greed indicators flashing red, smart money is starting to scope out a short level.
Based on the stock's chart, a short can be taken at $53. This is a beautiful double top that provides the technical short signal to match the overbought greed indicators. Once hit, look for Whiting to fall sharply back to $41.35.
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