Strategy Description: HZNP is in a pretty strong downtrend on the daily. Recent lows are $16.22 and $17 is a key rollover level.
On the morning weakness it is pretty difficult to short it because you would consider that chasing, but the setup is quite nice and it is reasonable to expect more weakness. So the key is to be patient, wait for the bounce. The daily ATR is about $1.80 and on the open it moved $2.50 so a decent move.
The bounce was around $1.20, so against a decent move and failed right at resistance picture perfect and an obvious place to short given it was straight off the lows and nearly bounced around 2/3s of an ATR.
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