Shares of Tableau Software (DATA) are getting crushed this morning, but the pain probably isn't over just yet.
DATA peaked in July (chart above) and started a downtrend with a big downside gap. The On-Balance-Volume (OBV) line peaked in July and the Moving Average Convergence Divergence (MACD) oscillator quickly generated a sell signal. The 50-day moving average went below the slower 200-day average in late September in what Japanese chartists call a death cross. DATA made a low in September/October, rallied to the underside of the 200-day moving average and failed. For the past month, DATA has been testing and retesting the September lows.
We don't have a real long history to work with on DATA, but this chart, above, gives us some additional perspective. Prices are below the 40-week moving average and the slope of the average is pointing down. The OBV line and the MACD oscillator are negative. Prices have broken their 2014 low. How low can prices go?
According to this chart, Data has a price target of $39.