FRI 3/13: BMO – CALLING A 2ND SELL SIGNAL @ $138.40 +1.9%

11:16 AM – Shares are clearly breaking below the 50 DMA this morning. That violation signals weakening intermediate-term momentum. I’m calling a 2ND SELL SIGNAL here and lowering our next level of support to $135.00.

ULTRA Trader’s Tip: Respect the 50 DMA

  • The 50 DMA is a key institutional support level for many stocks.

  • Breaks below that line often signal a shift in the intermediate trend.

  • Scaling out helps reduce risk while maintaining flexibility.

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