Booz Allen (BAH) shows risk to 78 and 72

Booz Allen Hamilton (BAH): Bearish continuation pattern targets 78 and 72

BAH has struggled. Relative weakness triggered breakdowns vs. the S&P 500 in June and September that provided a bearish leading indicator for an absolute price breakdown from a March into October bearish continuation pattern. This bearish breakdown remains intact below the 99-101 area and projects deeper weakness on BAH to 78 and 72.

Declining 13-, 26-, and 40-week moving averages 101.74, 105.64, and 108.72, respectively, provide an overhang on BAH.

Chart 1: Booz Allen Hamilton Holding Corp (BAH)