TUE 6/23: UNF – SELLING (ALL) P/L: -$515.16 -5.2%

3:47 PM – Selling the remainder of my UNF position here as the 10 DMA continues to act as resistance. We see this pattern time and time again when technical weakness develops. I’m not waiting for the next potential technical violation, which would likely be a break below the 50 DMA, currently at $261.37. I’d rather free up capital and redeploy it into stocks showing better technical conditions, such as TRV.

James’ Trader’s Tip: Resistance Is Just as Important as Support

  • A stock repeatedly failing at the 10 DMA is often a sign that buyers are losing control.

  • Former support levels frequently become resistance after they are broken.

  • When a stock cannot reclaim key moving averages, capital is often better deployed in stronger opportunities.

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