By losing the 21-day EMA, 50-day SMA and most importantly the 200-day SMA this morning, this stock has forced swing traders to liquidate and portfolio managers to either reduce long-side exposure or exit the name completely. Is there hope?
Yes, there is hope. The low point for the stock from early November, when the shares reversed higher, has to hold going into this weekend. Lose that level ($475) and the stock could easily trade all the way down into the $430's. Hold there, ...