What goes up must come down, especially in the stock market. Ancestry has had nearly a week of steady losses. Watch for a turn around shortly…
… Ancestry.com (ACOM) skidded 4% in nearly twice its normal volume. The online family history provider’s stock slashed through its 50-day moving average and is on pace for its fifth straight day of losses.
The stock broke out of a 20-week, cup-with-high-handle base on Sept. 20, clearing a 21.45 buy point. Ancestry’s revenue growth has accelerated to 39% from 13% in the past six quarters. Profit growth has zoomed to 167% from flat in the past two quarters. On the technical side, though, the stock’s up/down volume ratio has been weak lately, lagging below the neutral 1.0 mark in seven of the past eight weeks.
See the full article in the December 29 edition of Investors.com.
