Indicators argue for a technical correction after the last bullish movement recorded in last sessions.
From a fundamental viewpoint, analysts have recently downgraded their EPS expectations for 2014 and 2015. This situation could lead to some profit taking from investors.
After a substantial upturn, the stock now approaches the resistance at USD 52.6, fact that could inverse the tendency. In addition, a high RSI indicator should entice a marked fall close to the short term USD 47.9 support. Moreover, prices are currently taking a double top pattern which could accentuate the coming drop.
The graphical configuration argues for opening a short position at the current price. The end of the technical rebound, the consolidation phase and an overbought situation: Cedar Fair has all the characteristics for short selling. The first objective will be fixed near the USD 47.9 short term support. This strategy should be protected by a stop loss above USD 52.6.
Cedar Fair, L.P. is a regional amusement park operator. The Company operates approximately 13 properties, consisting of 11 amusement parks, four separately gated outdoor water parks, and resort accommodations totaling more than 2,300 rooms and 600 luxury recreational vehicle (RV) sites. Its parks are family-oriented, with recreational facilities for people of all ages, and provide clean and attractive environments with rides and immersive entertainment. Its parks operate seasonally except for Knott's Berry Farm, which is typically open daily on a year-round basis. Its seasonal parks are generally open daily from Memorial Day until Labor Day. In addition to daily operations, its seasonal parks are open during select weekends, including at various properties in the fourth quarter for Halloween and winter events. Its Cedar Fairs parks are located in Ohio, California, North Carolina, South Carolina, Virginia, Pennsylvania, Minnesota, Missouri, Michigan, Texas and Toronto, Ontario.
CEDAR FAIR, L.P. 
