TUE 2/24: CLB – CALLING A 3RD SELL SIGNAL @ $17.91 +10.42%

1:51 PM – After repeatedly running into resistance at the 10 DMA throughout February and forming a pattern of lower highs, shares are now committing another technical violation by breaking below the 50 DMA. That confirms continued deterioration in trend structure. Calling a 3RD and FINAL SELL SIGNAL here.

SELL SIGNALS:
11/5 (1/3) @ $15.59 -3.9%
1/28 (1/3) @ $18.71 +15.4%
2/24 (1/3) @ $17.91 +10.42%

OVERALL P/L: +7.3%

ULTRA Trader’s Tip: Multiple Failures at the 10 DMA Signal Trend Change

• Repeated rejection at the 10 DMA often precedes deeper weakness.

• Lower highs confirm developing downtrend pressure.

• A break of the 50 DMA removes intermediate institutional support.

• Protect gains before a controlled pullback becomes a larger decline.

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Chart services courtesy of stockcharts.com. Annotations by James Taulman.