FRI 8/28: URGN – SELLING (ALL) @ $44.61 | P/L: -$545.48 -10.9%

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. •

9:44 AM – Selling the back half of my URGN position here this morning and exiting the stock completely. After first breaking below the 10 DMA on 8/20, which triggered our 1ST SELL SIGNAL, shares are now falling below the ROUND-$45 level while the 10 DMA continues to roll over. Those are additional bearish technical signs, and I’m not willing to ignore the continued deterioration.

James’ Trader’s Tip: Weakness Often Builds in Stages

  • The initial break below the 10 DMA was the first warning that short-term momentum had changed.

  • Losing the ROUND-$45 level adds another technical violation.

  • A rolling-over 10 DMA reinforces the bearish trend and supports getting completely out when weakness continues to build.

https://buyingbreakouts.com/fri-8-28-urgn-selling-all-44-61-p-l-545-48-10-9/

Disclaimer: This and other personal blog posts are not reviewed, monitored or endorsed by TalkMarkets. The content is solely the view of the author and TalkMarkets is not responsible for the content of this post in any way. Our curated content which is handpicked by our editorial team may be viewed here.

Comments

Back to TalkMarkets