Retail Broker TD Ameritrade Holding Corp To Fall Over 15%

Shares of retail broker TD Ameritrade Holding Corp. (NASDAQ:AMTD) have likely reached their high point in the near-term and are on the horizon of a 15% correction. The stock has slammed into a resistance trend line that stretches back to 2011. Since July 2016, TD Ameritrade has jumped from near $26 to $47, a gain of 80%. Much of the hype in shares of TD Ameritrade has been the return of the retail investor, buying and selling more actively, thus running up commissions collected by the firm. Regardless of the reasons, the stock has hit a resistance level that dictates a monster pull back to $38.75, a drop of 17%. This is a short trade I am actively exploring and will likely initiate within a day or two.