After a sharp decline with a gap in early March, Staples (SPLS) retraced 50-62% with a rising flag over the last 2-3 weeks. The stock broke the lower flag trendline with a sharp decline on Wednesday, but firmed at support around 23.5 on Thursday.
Click this image for details
Click this image for details
About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
Learn More
