Last week, Z tagged the $123 and bounced off of it, to close the week out at $130.97. However, there was no carry-over in momentum. The stock has since fallen below $123, finishing Friday's trading session at $121.75.
Friday's close is significant in that the $123 level had been fiercely defended by the bulls on the weekly chart multiple times since June, as noted by the blue arrows.
Stay up to date and subscribe to our blog to receive the latest posts via email: http://www.syncubate.com/engage/