Traders Take Note: Popular Inc (NASDAQ:BPOP) Stock Drops … – CML News


Traders Take Note: Popular Inc (NASDAQ:BPOP) Stock Drops, Weakness in Technical Momentum

Popular Inc technical rating as of

(BPOP Price of Stock at Publication: $34.86)


Take Note: Popular Inc (NASDAQ:BPOP) has hit some technical weakness in its momentum, and while it has not broken down all the way through support — watch the key levels that we discuss below and further, watch the stochastics and technical oscillators for any kind of momentum gaps.

The company has a two bull momentum rating which indicates weakness — but not a full scale breakdown.


There can be a contrarian urge to enter a new long position as the stock drops, but as of this moment, the stock price is moving lower and may yet weaken further. If a reversal becomes apparent, waiting for that strength in the technicals may be more prudent than jumping in as the stock drops.


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BPOP is down -19.2% over the last three months and down -17.7% over the last six months. The stock has returned -6.5% over the last year. The current stock price is $34.86.

The technical rating goes from a rating of one, the weakest upside technical, to a rating of five,
the highest upside technical. This is strictly focusing on price and technical — that means we focus on real-time stock price movement and then position it relative to the simple moving averages. To make the technical rating meaningful, the moving averages are also compared to each other.

Technicals   |   Support: 32.29   |   Resistance: 35.76   

Death Cross Alert: The 50 day moving average is now below the 200 day moving average.

As we noted above — the back of the envelope rule here is that when shorter-term moving averages move below the longer-term ones, momentum is weakening. We have that right now.

Swing Death Cross Alert: The short-term 10 day moving average is now below the 50 day moving average.

Recall that when we see the shortest-term moving average (10-day in this case) fall below any other moving average (50-day in this case), it indicates weakening momentum.

Popular Inc has a two bull (momentum weakness) technical rating because because while it’s trading above its 10 day moving average, it’s down
-2.52% on the day, trading below both the 50- and 200 day simple moving averages and the 10 day moving average is below the 50 day moving average (“swing death cross”).

We now turn to the actual numbers driving this rating:

Popular Inc (NASDAQ:BPOP) rating statistics:

10-day moving average: $33.12
50-day moving average: $37.23
200-day moving average: $40.27

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