7:23 PM – Yesterday I pointed out that the 50 DMA would likely act as resistance for the stock. However, today shares plowed through that level in bullish fashion. The move was encouraging — but the 10 DMA quickly became the new ceiling, and DOLE was abruptly turned back from there. Under normal circumstances, a rejection at the 10 DMA would be considered a clear SELL SIGNAL. But given that this action is tied to post-earnings volatility, I’m allowing a bit more room before making the 3rd SELL SIGNAL call. Members who strictly follow the guidelines remain with 1/3 of the original position, currently sitting at a -2.6% unrealized loss. A clean push through $15.25 would improve the setup — otherwise, I may look to call a FINAL SELL SIGNAL on any further technical weakness.

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