The stock has become over-bought rather quickly thanks to the recent rally. The rising price has taken the stock right back up to a rather strong resistance line that developed during that horrible May price plunge.
So what we are seeing now is a price that is over-bought at resistance...that is a sell signal.
Here's the levels I've got in for my clients
Sell...
Trade with caution on DCP, warns our Unum Trading Desk analyst Lester Davids!
"The upward price momentum is strong however we trade just above the 200dma as well as at the prior support that was in place from November 2017 to May 2018. We also have an open "gap" at 3525c from the "gap" down on 4-May.
The share now commands a 42 P/E .
I advise caution on any...
