DDD start of a new leg higher?

S

Stocks4life

attempting a new high breakout above 50.48 (three month strong triple resistance area)

VOLUME 4.96mil shares, +9.9% compared to typical daily volume over the past 6 months.
Typical daily volume is 4.51mil shares over the past 6 months.

BREAKOUT WATCH for possible breakout above 50.48, no resistance in area just above.
Type: True breakout from triple+ resistance.
Target: 57.89, 16.3% Stop: 46.99, Loss: 5.6%, Profit/Loss ratio: 2.9 : 1 - Good

CURRENT PRICE 49.76, at resistance, 48.95 ± 1.52, type triple+, strength 10
RESISTANCE ABOVE None.

SUPPORT BELOW -6.9% at 46.31 ± 1.44, type double, strength 8
-11.9% at 43.82 ± 1.36, type triple, strength 10
-16.3% at 41.67 ± 1.29, type double, strength 10

DDD_8_12.png


source: http://www.stockconsultant.com/consultnow/basicplus.cgi?symbol=DDD
 

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I assume you were stopped out this morning. My question is when you see a triple top failure of this magnitude happen so quickly what's your take on that move? Is it due to the sector getting hit as it is? Overall market downtrend this week? Simply no justification for a new high breakout?
Now what? Wait until it tests the high again? It has bounced of it's 50 day MA this morning which shows some strength at this point.
 
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