Jul. 21 at 3:39 AM
$CNP – MON: CALLING A 2ND SELL SIGNAL @
$42.58 -4.5%
3:32 PM – Calling a 2ND SELL SIGNAL here due to continued technical weakness. The 10 DMA has clearly become resistance, with shares once again being turned back at that level. In addition, the 10 DMA has rolled over, indicating that a short-term downtrend is beginning to develop. A decisive break below the 50 DMA, currently at
$42.89, would trigger a 3RD and FINAL SELL SIGNAL.
ULTRA Trader’s Tip: Ongoing Technical Weakness Matters
• Technical weakness is often a process, not a single event.
• A stock that continues to show signs of deterioration—even without a major breakdown—is sending an important message.
• Repeated bearish technical behavior should be respected, as ongoing weakness is itself a valid SELL SIGNAL.
https://buyingbreakouts.com/mon-7-20-cnp-calling-a-2nd-sell-signal-42-58-4-5/
