MON 8/3: FTS – SELLING (1/2) P/L: -$395.96 -3.7%

3:44 PM – Selling all of my FTS position this afternoon as we head into the close. After recently losing support at the 10 DMA, shares are now clearly breaking below the 50 DMA while the 10 DMA is rolling over. With multiple signs of technical deterioration stacking up, I’m closing out the position and protecting capital.

James’ Trader’s Tip: Technical Weakness Often Builds in Stages

  • Losing the 10 DMA is often the first warning that short-term momentum is weakening.

  • A subsequent break below the 50 DMA confirms more serious technical deterioration.

  • When weakness continues to build and key moving averages begin rolling over, respect the message and reduce exposure.

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