SHLD Reversal?
Another potential reversal has presented itself and this time it is at a long-term time frame.
Sears is showing a potential reversal on the monthly and weekly charts as presented below. With only a few days left in the week and the month, it will be key to watch for signals that the stock is breaking down. But since the market has remained firm the last week or two, despite attacks on the bull story at periodic intervals, Sears has given back much of its gains and is perched at a key level around 70.
First, the monthly chart:
And then the weekly chart:
Sears is showing a potential reversal on the monthly and weekly charts as presented below. With only a few days left in the week and the month, it will be key to watch for signals that the stock is breaking down. But since the market has remained firm the last week or two, despite attacks on the bull story at periodic intervals, Sears has given back much of its gains and is perched at a key level around 70.
First, the monthly chart:
And then the weekly chart:
posted by Matt Butler at 7:34 PM
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