While we will not be weighing in with fundamental analysis we hope this piece will give investors interested in stocks on the way down a good starting point to do further homework on the names.
This apparent V bottom is not going to last for the bulls, unfortunately. The rally last week in this lottery and digital gaming name has been on lower turnover and money flow is bearish.
The cloud is red and widening, which is very bearish behavior. Price action has been downright awful and we could see a move back into the $3s before too long.
No question the most vulnerable stocks during this latest crisis have been the transports. The resort names have been pounded as vacationers are staying away due to the coronavirus scare.
The charts don't lie, and Marriott Vacations has fallen hard like the rest of them. Moving average convergence divergence (MACD) is on a sell signal, and while last week showed some relief we should see this stock and others head right back down.
The cloud is deep red and money flow is weak. It's likely to test the $30 level one more time; put a stop in at $70.