The Trader's Dynamic in the bottom pane has rolled over as well, but price action is not horrendous. Actually, the current price is only about 2% off the recent highs, so perhaps the indicators are a bit of an exaggeration.
The tight consolidation of late is on very low turnover. That's what you want to see during a corrective phase; big money is not letting go of the stock.
While we have Ford ( F) in the AAP portfolio, Ferrari is clearly one of interest and on the radar. Luxury goods seem to do well in the face of a poor economy (at times). Ferrari is one of those brands that has loyal owners. Loyalty is not going away.
(Real Money contributor Bob Lang is a team member of TheStreet's Action Alerts PLUS, where this commentary originally appeared on Feb. 24. Want to be alerted before AAP buys or sells stocks? Learn more now. )
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Previously know as Pinduoduo, weak consumer spending has plagued the stock.
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