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Wheeeeee

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Alias Born 07/02/2009

Wheeeeee

Re: None

Friday, 07/31/2009 10:17:50 AM

Friday, July 31, 2009 10:17:50 AM

Post# of 1309
Chart and some explanation

http://rt2.c.prorealtime.com/ProRealTimeNew/tmp/img_12490496233781.gif

Price retraced to the purple (50) moving average and is headed up to the 20 ma. This may lead to a wedge formation. The 50 ma is an obvious bounce line

Notice the TOTAL LACK of volume on the last few days. If there is NO volume at a support test, then it will hold. Same applies to a resistance test.
On such low volume it only needs 2 or 3 sellers to slam the price down (as happened). The price moved from 48 to 43 on 200.000 shares. Pathetic.

The stochastics is signalling a buy due to the crossover and being in the oversold are.

RSI is turning it seems. But nothing real.

OBVdidnt move that much on the down days.

Nice shakeout. Thanks for the shares. IMO
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