MON 6/8: IBP – CALLING A FINAL SELL SIGNAL @ $195.40 -35.6%

9:40 AMIBP is breaking down to new lows this morning. The stock is clearly trading below ROUND-$200 support and continues to show significant technical weakness. This triggers a FINAL SELL SIGNAL.

ULTRA Trader’s Tip: Never Argue With the Chart

  • Stocks making new lows are signaling that sellers remain in control.

  • Breaks of major support levels often attract additional selling pressure.

  • The purpose of a FINAL SELL SIGNAL is to stop the damage and preserve capital for stronger opportunities.

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