Wednesday, October 25, 2017 12:13:37 PM
Today, leading online manufacturer and retailer of photo based personalized products and services, Shutterfly, Inc (NASDAQ:SFLY) is declining sharply on the charts. The fall in SFLY stock comes after a poor reaction to earnings. The stock is now trading below its 50 and 200-day moving averages putting it in a weak technical position. Traders and investors should now expect a lower stock price in the coming weeks. The next major support level on the charts will be around the $39.00 level. This level is where the stock was defended in January 2016 before breaking out to new 52 week highs. Often, when stocks back test past support levels they will be defended by the institutional crowd.
Nicholas Santiago
InTheMoneyStocks
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