We were bearish on March 5 when we reviewed the charts of Splunk Inc. (SPLK) writing, "Continue to avoid the long side of SPLK. A retest of the March low is possible, according to the weekly Point and Figure chart. We will have to look at SPLK again around $100 to see if buyers become more aggressive in that area."
SPLK has not reached $100 but let's check on the charts again.
In the updated daily bar chart of SPLK, below, we can see that prices have made lower lows from September. Lower highs started in October. Prices remain below the declining 50-day moving average line and the now declining 200-day line. In early January we can see a bearish dead or death cross as the 50-day crossed below the 200-day line.