Anatomy Of A Breakdown:

Some names should have been applauded for their firm PRICE action as the group has been acting much better as of late. As technicians however it is always a game of “What have you done for me lately?” The chart of FOUR below caught a bearish short report, but the name should have been on a very worried long shareholder list after a quick succession of some bearish candlestick patterns this month with a harami cross and engulfing at highs not seen since late 2021. The name came public in early 2020 to great fanfare and ran all the way to the very round par number where it hit a wall between March-July 2021. Since rising 25% the week ending 3/3 in the third largest WEEKLY volume ever, not a typo, it has advanced just one week. No one knows if this sell-off following the negative note today will gather more steam to the downside, but one thing is probable that there are better fish to fry with your hard-earned capital.

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