When a stock has a failed green line break-out (GLB) it often portends more weakness. See weekly chart.
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Blog Post: Day 17 of $QQQ short term down-trend; QQQ could be close to support, see weekly chart
Maybe QQQ will bounce up off of this trend channel line–thank you Vas! I drew this line weeks ago! This is a Stage 4 down-trend. No time for me to buy and hold.
Blog Post: Day 16 of $QQQ short term down-trend; 7 IBD/MS Stocks with Weekly Green BAR and at ATH: $VLO, $WLK, $MUSA, $MPC, $RS, $CEIX, $AMR
These stocks on my recent IBD/MS watchlist passed my scan for having a weekly green bar, hitting an ATH (all-time high) and relative strength (SPY) at 20 week high. Worth monitoring if today’s rally holds. AMR has earnings Thursday.
Here is weekly chart of MPC as an example. All of these stocks are above their last green top. Note this week’s green bar.
