10:15 AM – Calling a FINAL SELL SIGNAL this morning as the stock continues to lag even with the recent bump in the market.

We don’t call SELL SIGNALS arbitrarily. POR has exhibited several distinctive signs of technical weakness which are right out of our playbook.

Starting with:

1. a drop below the 10 DMA,

2. a turnback from the 10 DMA,

3. lower highs forming,

4. the 10 DMA the started rolling over,

5. declines on above-average volume,

6. and now a start of a break below an upward trendline.

That sequence confirms a developing downtrend and justifies the FINAL SELL SIGNAL.

ULTRA Trader’s Tip: Weakness Leaves Clues

  • Technical deterioration usually appears as a sequence, not a single event.

  • Breaks of the 10 DMA, lower highs, and turn-backs from the 10 DMA are some of our bearish signals.

  • When multiple violations appear together, the prudent move is to exit.

EDITOR’S NOTE: Chart has been updated after the close.

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