After recording new highs just a few weeks ago, the darlings of the stock market were hit hard as traders sold risk and sought relative safety. LinkedIn (LKND), Tesla (TSLA), Yelp (YELP) and RackSpace (RAX) fell more than 9% in the last five days. All eight stocks in the PerfChart below are also trading below their 20-day moving averages.
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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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