FRI 8/21: FTS – CALLING A 2ND/FINAL SELL SIGNAL @ $54.90 -6.8%

3:59 PM – Calling a 2ND and FINAL SELL SIGNAL just before the close as shares sell off this afternoon and break below the ROUND-$55 support level while volume runs 28% above average. The combination of continued price weakness, a loss of support, and increased selling volume confirms further technical deterioration and closes out coverage on this selection.

ULTRA Trader’s Tip: Increased Volume Confirms the Weakness

  • Breaking a previously identified support level is an important technical violation.

  • When that break occurs on above-average volume, it adds conviction to the bearish action.

  • When price and volume confirm continued weakness, follow the signal and move on.

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