OpenTable (OPEN) shows signs of rolling over as a lower high takes shape and MACD moves below its signal line. Notice that OPEN hit resistance near the 61.80% retracement just above 46. MACD is barely in positive territory and this downturn puts it on the trajectory to turn negative.
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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.
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