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

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.

CLICK/TAP CHART TO ZOOM
Chart services courtesy of stockcharts.com. Annotations by James Taulman.

THU 6/18: SIG – ADDING TO WATCH LIST

11:53 PM – Here is our latest chart update for this recent breakout from our Traditional BreakOuts Watch List.

CLICK/TAP CHART TO ZOOM
Chart services courtesy of stockcharts.com. Annotations by James Taulman.

We are currently reporting on this stock as an active holding and continue to monitor the stock closely for any technical SELL SIGNALS.

The focus always remains on price/volume action around key support levels, including the 10 DMA, 50 DMA, and any nearby trendline or ROUND-$ support.