Aug. 18 at 2:31 PM
TUE 8/18:
$PH – CALLING A 1ST SELL SIGNAL @
$1,038.12 +3.4%
9:42 AM – As noted last night, “Any further declines would be a SELL SIGNAL.” Shares are clearly breaking below the 10 DMA this morning on a sharp increase in volume. That combination of a key technical support violation and increased selling volume warrants calling a 1ST SELL SIGNAL under our rules.
ULTRA Trader’s Tip: Increased Volume Makes a Violation More Meaningful
• A break below the 10 DMA is a standard technical warning under our rules.
• When that break occurs on sharply increased volume, it adds conviction to the bearish action.
• Predetermined rules remove emotion from the decision—when the violation occurs, respect the signal.
https://buyingbreakouts.com/tue-8-18-ph-calling-a-1st-sell-signal-1038-12-3-4/