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Clean Energy Fuels (CLNE) Offering a Favorable Risk/Reward Setup

clean energy failI've taken a short trade in CLNE at $12.88. The stock has a higher level of risk from the stand point of holding it overnight, as it has had the tendency to gap some of late. However, this stock is running slap-dab right into resistance at around the $13 level as you can see below. My stop is at 13.45 which gives me about 4% for a stop-loss, which is about the max I'm willing to go. 

You'll see that a lot of this stock's movement is off of Cramer's pumping of this stock  and a few other favorable articles, but once that pump subsides, it should make a nice move lower. 

Here's the short setup that I took in CLNE

Clean Energy Fuels Corp CLNE short setup at resistance

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ryan1Ryan (@shareplanner) specializes in swing trading strategies and is the founder of SharePlanner which he created to help and teach others on how to trade stocks better using multiple approaches and time frames. Each day you can count on Ryan to provide his trading advice as well as transparency in every trade that he makes. Ryan Mallory resides in Central Florida. More >>

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