Here are a few high-profile companies that had previously showed volume off the high characteristics, and show why doing your homework when seeing this setup is paramount. I am reminded by the idea that someone always knows something more than you. A lot of times this is reflected in the volume and price characteristics of a stock, fund or investment. For instance, both 3M and IBM flashed warning signals before declining off the highs, recently trading below their respective 200-day moving averages.
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