ARM SELL
This was yesterdays top tip on Investors Inteligence:
ARM Holdings has been failing to reassert its long-term price uptrend for some time. More worryingly, the stock is retreating from its recent highs. This raises the possibility of a long-term top formation (see right).
Note too that ARM has breached the 200-day moving average. Technically, we are always wary of stocks falling beneath its 200-day MA as this usually signals that a change in trend. Also, we note ARM's falling relative strength.
A medium-term short may thus be opened here, with the initial stop advised at 630p, a stop to be lowered as soon as prices move in favour. Target 400p.