Aug. 12 at 3:21 AM
TUE 8/11:
$SIG – CALLING A 1ST SELL SIGNAL @
$94.36 +0.1%
3:38 PM – Calling a 1ST SELL SIGNAL as shares continue to exhibit bearish technical action after running into resistance near the previous high at the ROUND-
$100 level. The stock has now developed a series of lower highs, fallen back below its 10 DMA, and appears to be developing a short-term downtrend. With multiple signs of technical weakness beginning to stack up, I’m calling the first SELL SIGNAL here.
ULTRA Trader’s Tip: Watch for a Pattern of Lower Highs
• A series of lower highs shows that buyers are becoming less aggressive with each rally attempt.
• When that pattern is accompanied by a break below the 10 DMA, the technical picture becomes increasingly bearish.
• Recognizing a developing downtrend early allows you to reduce exposure before additional technical damage occurs.
https://buyingbreakouts.com/tue-8-11-sig-calling-a-1st-sell-signal-94-36-0-1/
