THU 8/27: TPR – CALLING A 2ND/FINAL SELL SIGNAL @ $128.00 -21.0%

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. •

9:41 AM – Calling a 2ND and FINAL SELL SIGNAL after the stock was hit roughly 20% on earnings and has failed to develop any meaningful recovery. Shares are now being turned back from the 10 DMA, which has become the first level of resistance. Additional overhead resistance remains at the 200 DMA near $132.64, followed by the ROUND-$140 level and then the 50 DMA near $144.63. With significant technical damage and multiple layers of resistance overhead, we’re closing out coverage on this selection.

ULTRA Trader’s Tip: Former Support Can Become Resistance

  • After a major breakdown, the 10 DMA can shift from support to the stock’s first resistance level.

  • Multiple layers of overhead resistance make a meaningful recovery increasingly difficult.

  • When a damaged stock repeatedly fails to recover, respect the technical evidence and move on.

#TPR #StockMarket #SwingTrading #TechnicalAnalysis #StockCharts #SupportLevels #Investing #BreakoutStocks #BuyingBreakOuts

https://buyingbreakouts.com/thu-8-27-tpr-calling-a-2nd-final-sell-signal-128-00-21-0/

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