The next week FNP did turn lower, which was confirmed by the declining RSI3, line 3.
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Below is a three month price history chart comparing the stock performance of FNP vs.
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Two weeks later, FNP reversed to the upside with a strong close but the volume was light.
At the closing bell, FNP is off about 0.3%, while RRD is trading flat on the day Tuesday.
Since FNP is part of the seasonally strong apparel sector I would not press the short side of FNP at current levels.
Unfortunately the data on the October option series for FNP is no longer available, but I am confident there would have been a good opportunity in September.
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