Stocks rallied in the past after similar declines.
The December futures contract has met two key upside extension targets.
Price is clearly above the 200-day and 50-day simple moving averages.
I would have my initial stop on a re-entry in this stock below the $218.00 low made on July 24.
But it needs to take out a high in the coming weeks.
©1996-2017 TheStreet, Inc. All rights reserved.Action Alerts PLUS is a registered trademark of TheStreet, Inc.