WED 8/26: OII – CALLING A 2ND SELL SIGNAL @ $49.31 +22.2%

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. •

3:35 PM – Calling a 2ND SELL SIGNAL here before the close as shares continue to deteriorate technically. After recently breaking below the 10 DMA, the stock is now falling below our previously noted support at the ROUND-$50 level. That represents another technical violation under our rules.

ULTRA Trader’s Tip: One Violation Can Lead to the Next

  • Losing the 10 DMA is often the first indication that short-term momentum is weakening.

  • A subsequent break of another identified support level confirms that the weakness is continuing.

  • Scaling out as technical violations accumulate allows you to systematically protect a substantial winner like this +22.2% gain.

https://buyingbreakouts.com/wed-8-26-oii-calling-a-2nd-sell-signal-49-31-22-2/

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