Similar Setups, Different Directions

Two stocks that have similar rising long-term support lines and declining long-term moving-average convergence/divergence indications are setting up trades in dissimilar directions.

Sally Beauty Holdings (SBH) is a retailer and distributor of professional beauty supplies. Management has been dealing with the fallout from a data breach incident last month, but its weekly chart has been looking weak since the beginning of the year. The price action over the last two years resembles a large head-and-shoulders top with a rising neckline drawn off 2012 and 2013 lows. That resistance is intersecting with a five-month horizontal support line....322 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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