$CPB getting rejected at the 200-day MA like clockwork. Haven't seen a close above it since December.
That's two months of failed attempts. When a stock can't reclaim that level after multiple tries, it's usually telling you something about underlying demand.
Not a death sentence, but definitely not the setup you want to see if you're long. Watch for either a clean break above or another leg down if it keeps getting turned away.
That's two months of failed attempts. When a stock can't reclaim that level after multiple tries, it's usually telling you something about underlying demand.
Not a death sentence, but definitely not the setup you want to see if you're long. Watch for either a clean break above or another leg down if it keeps getting turned away.
