Don't Ignore This Chart!

High Flyers Fall Hard as Traders Shun Risk


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.

Screen Shot 2013-10-09 at 3.30.35 PM
Click this image for a live chart

Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at 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
Subscribe to Don't Ignore This Chart! to be notified whenever a new post is added to this blog!
comments powered by Disqus