Amusement park operator Cedar Fair (FUN) has had a tough summer with stock prices sliding from July and through August. The downdraft does not look like it's over.
In this daily chart of FUN, above, we can see investors had some brief fun with an all-too-short rally to $63, a mid-month zenith. Prices have since broken below the 50-day moving average line and its slope is turning negative. Prices are testing the 200-day average line and it is flat (for now). The On-Balance-Volume (OBV) line started moving down in mid-July, telling us that investors have become more aggressive sellers with the volume of shares traded heavier on days when FUN closed lower. There is a very brief bullish divergence in August with lower lows in price but higher lows from the 12-day momentum study.
In this longer-term look at FUN, above, we can see prices are testing the 40-week moving average line. The weekly OBV line is neutral and the Moving Average Convergence Divergence (MACD) oscillator has signaled a liquidate-longs sell signal.