MON 3/2: BBVA – CALLING A 2ND SELL SIGNAL @ $22.18 -9.6%

10:00 AM – The stock opened with a gap down this morning after recently being turned back from its 50 DMA. That rejection at a key intermediate resistance level was an early warning. Now the downside follow-through confirms continued technical deterioration. When a stock fails at the 50 DMA and then gaps lower, risk increases quickly. Calling a 2nd SELL SIGNAL.

BUY SIGNALS:
1/8 (1/3) @ $23.71
1/29 (1/3) @ $25.36

SELL SIGNALS:
2/12 (1/3) @ $23.28 -5.1%
3/2 (1/3) @ $22.18 -9.6%

OVERALL P/L: -7.4%

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