SHOT Shot Safety Massive Volume Spike, Is it Over?

 

SHOT on today's daily chart we see that there was a small pop this morning in pre-market but that gave an opportunity to longs who didn't sell at higher levels to get out at a half decent price.

Right after the open at $5.67 would have been an ideal selling price, as it was downhill from there (see the down trend line).  Short term scalpers could have bought at the break at $3.10 and made at least 40 cents as it traded range bound between $3.50 and $4.00 until the close.

The stock experienced a blow off volume of 67 million shares, usually an indicator that "the party is over".

Look at my previous days posts on SHOT.