Today's Master the Trade setup is to short Oshkosh Corporation, OSK symbol. As the market finally broke down yesterday below its August range, weak stocks have begun to set up better for follow through. Before the opening bell OSK gapped down to an area of support at $25.
The chart pattern setting up in this stock is a head and shoulders pattern which can indicate lower prices. The neckline and first short entry would be at $25.00, and then as it gets through $24.50 look to short more for a target of at least $21.00. Set your stops at the top end of the trading range at $26.00.