It may be time to erase the higher long term trend line. (dragonflycap.com)
«Typically, when a stock gets overbought, it is ripe for a pullback because overbought stocks, ones with many buyers reaching to take in supply, tend to snap back after they have gotten too far away from their longer term trend line,» Cramer said. (cnbc.com)
The long term trend line will act as a support level. (cnbc.com)