Bullish Shutterfly Snapshot
Recent volume trends have been very strong, and momentum is bullish.
Shutterfly's (SFLY) chart is atypical of high beta names. The stock was pounded from the summer highs, losing more than 35%, but then it recovered and bounced sharply. The recent highs made show follow-through from a two-month breakout high.
The uptrend channel is defined and is at some resistance. The 200-day Moving Average at $44 is also more stiff resistance. However, the trend is now shifted upward. Recent volume trends have been very strong, and the Moving Average Convergence Divergence just hit a second buy signal. Relative strength has been impressive.
At the time of publication, Lang held no positions in SFLY.