We are going to recommend taking profits on our long Lumber Liquidators position
Currently trading at $38.71 (9/12/17 10:15 am)
Lumber Liquidators experienced its largest down volume in quite a few sessions yesterday. We feel at best it will go into a trading range here. You can also see that it is trading at its overbought line of the recent uptrend.
We have reached the first upside objectives off of the point & figure chart, so we at a level where we could experience some hesitation. There is much higher objectives so this is one to watch in the days/weeks ahead for a stepping stone count and further upside appreciation.