This is what I'm doing after the company's less-than-encouraging results.
Disappointing earnings and guidance from the tech giants dash the bullish momentum that was building in the Invesco QQQ Trust.
The shares have been in a downward trend for the past 12 months.
We could see an even deeper decline up ahead.
Let's drill down on the charts and see what they tell us.
I and other traders are losing interest in putting chips on the table after weeks of crummy price action, which may not be all bad from a sentiment perspective.
Following Big Blue's earnings, we've updated our analysis and technical strategy for the shares.
The shares are currently in a long-term downward trend.
It looks to us that Starboard has been a patient buyer.
Let's check the charts for clues.