FRI 8/28: GPN – CALLING A 2ND SELL SIGNAL @ $91.91 +14.6%

James F. Taulman
James F. Taulman
James had served as Editor-in-Chief of the first independently licensed website to offer stock reports and services based on the CAN SLIM® investment system. •

3:26 PM – Calling a 2ND SELL SIGNAL as shares are now clearly breaking below the 10 DMA while also forming a series of lower highs. That combination is a bearish technical development and can mark the beginning of a developing downtrend. With the position still showing a +14.6% gain, this is the type of weakness we want to respect rather than ignore.

ULTRA Trader’s Tip: Lower Highs Can Signal a Trend Change

  • A series of lower highs shows that buyers are becoming less willing to push the stock back to previous levels.

  • A break below the 10 DMA adds another important technical violation.

  • When weakening price structure and a support break occur together, protect profits and follow the SELL rules.

https://buyingbreakouts.com/fri-8-28-gpn-calling-a-2nd-sell-signal-91-91-14-6/

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