Up-Trending Stocks on Down Days

J

jorgemb

I'm following several stocks that have been trending up on weeklies: BA (Boeing), FON (Sprint) and so forth. If a stock that has been on an upward trend fails to go down in price when the market goes down as much as it did today, is that considered a buy signal? Would like to read some rationale either way.

TY
Jorge
 
It simply indicates a good relative strength. That in itself isn't a buy signal, but if you were given other buy signals it could help in the decision. IMO, on a list of 10 reasons to buy a stock, it would not be at the top of the list.
 
The stock is showing some strength, but youhave to check the news to see if it got supported by a one time announcement. My experience has been if the market really tanks, they will get them all eventually.
 
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