Trader Mike's Notes
Here's another former favorite long of mine that looks ready to roll over. It's languishing under its 50 DMA and has printed quite a few bearish signals the last few days.
My old favorite long, which I rode from 22 to over 100. I hate to say it but this looks like a failed (failing) attempt to break back over its 50-day moving average. The $100 level is also nearby and could become psychological resistance. Also note the "Non-ADX 1,2,3,4 Bearish" it made today.
This has been trending nicely since it IPO'd a couple of years ago. Like so many stocks this week it's trying to find support at the so important 50-day moving average.
Should be support around 150 for this small-cap index ETF thanks to all those days in October where ~150 was resistance...
One of my favorite charts of those in the Top 50 Bullish list today. It triggered got a "Calm After Storm" and a "Non-ADX 1,2,3,4 Pullback" signal (among others).
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