Growth Capped by the 50 Day Moving Average
These are 6 randomly selected growth stocks that have been hammered and just rejected off the 50 day moving average yesterday.
Watch for the downside trend to continue in these stocks until they're able to at least breach the 50dma.
The question is do these stocks make higher lows (if the downward trend continues) or lower lows?
IMO if you are a trend follower, you should avoid any stocks on the long side if they look like this (unless you're trying to day trade a bounce).
Watch for the downside trend to continue in these stocks until they're able to at least breach the 50dma.
The question is do these stocks make higher lows (if the downward trend continues) or lower lows?
IMO if you are a trend follower, you should avoid any stocks on the long side if they look like this (unless you're trying to day trade a bounce).
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