This Market Maker Is Tanking On Earnings
InTheMoneyStocks.com | Aug 08, 2019 02:28PM ET
Virtu Financial (NASDAQ:VIRT) fell sharply lower Thursday after reporting earnings. The technology-enabled stock market maker was trading lower by 13.35% to $19 a share. The stock just broke the $20 level on heavy volume, which was critical daily chart support. VIRT stock is now trading below all of its important daily chart moving averages. That puts it in a weak technical position on the charts and signals further potential downside. VIRT's next major support level will be around $15, which is where the stock broke out in November 2017. Often, when a prior break-out level gets tested it will be defended by the institutional crowd.
Stay tuned.
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