Joy Global (JOY): Death Cross

Joy Global (JOY) just flashed a death cross.

Joy Global (JOY)
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In late February JOY flashed a golden cross but has failed since then.

When golden cross signals fail in strong markets that is a red flag.

Let’s see if the 200DMA turns into major resistance area. Will the bears be aiming for the October lows?

For Reference

The death cross (technical formation when the 50-day moving average drops below the 200-day) can be used as a filter to help narrow down the field. Next, use the Seven Steps to Better Stock Trading to evaluate the sentiment and price action. Better yet, sign up for The Select 20 Stock Picks or use my free Total Indicator for eSignal.