FRI 1/23: IBP – CALLING A FINAL SELL SIGNAL @ $297.31 +6.1%

10:15 AM – Shares are breaking below the ROUND-$300 level and also below the 10 DMA this morning. That combination confirms a loss of short-term control. Calling a FINAL SELL SIGNAL here and closing out the position.

SELL SIGNALS:
12/16 (1/3) @ $264.92 –5.5%
12/31 (1/3) @ $259.96 –7.2%
1/23 (1/3) @ $297.31 +6.1%

OVERALL P/L: –2.2%

ULTRA Trader’s Tip: Two Breaks Are Not One Coincidence

  • Breaks of round-number support matter.

  • Breaks below the 10 DMA confirm momentum failure.

  • When both occur together, the priority shifts to capital preservation, not hope.

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