TUE 9/1: BY — Called a FINAL SELL SIGNAL at +17% as Bearish Action Mounts

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. •

10:05 PM – Calling a FINAL SELL SIGNAL on Byline Bancorp as bearish technical action continues to mount. The 10 DMA has repeatedly weighed on the stock and acted as resistance, while a clear downtrend has developed from the early-August highs near $40.00. Today’s move to a new recent closing low adds another bearish sign and confirms the continued deterioration.

ULTRA Trader’s Tip: Repeated Resistance Can Define the Trend

  • When a stock repeatedly fails at the 10 DMA, that line can shift from support to resistance.

  • A pattern of lower prices developing from prior highs is evidence that a downtrend is taking shape.

  • New recent lows add confirmation that weakness is continuing and support taking the final SELL SIGNAL.

https://buyingbreakouts.com/tue-9-1-by-called-a-final-sell-signal-at-17-as-bearish-action-mounts/

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