TUE 8/11: SIG – CALLING A 1ST SELL SIGNAL @ $94.36 +0.1%

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. •

3:38 PM – Calling a 1ST SELL SIGNAL as shares continue to exhibit bearish technical action after running into resistance near the previous high at the ROUND-$100 level. The stock has now developed a series of lower highs, fallen back below its 10 DMA, and appears to be developing a short-term downtrend. With multiple signs of technical weakness beginning to stack up, I’m calling the first SELL SIGNAL here.

ULTRA Trader’s Tip: Watch for a Pattern of Lower Highs

  • A series of lower highs shows that buyers are becoming less aggressive with each rally attempt.

  • When that pattern is accompanied by a break below the 10 DMA, the technical picture becomes increasingly bearish.

  • Recognizing a developing downtrend early allows you to reduce exposure before additional technical damage occurs.

https://buyingbreakouts.com/tue-8-11-sig-calling-a-1st-sell-signal-94-36-0-1/

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