Friday, May 06, 2011 12:51:17 AM
I drew out the inverse head and shoulders pattern, and confirmation would be a break of that neckline I drew, which coincidentally lines up nicely with the 50 MA. That makes the resistance at that level a bit more significant, which would also means more conviction if the bulls can trigger this setup.
-Like always, watch for some confirming volume on any break attempt.
-Hammer and bullish harami on the daily chart today, that might mark a bottom to this shoulder.
http://onlycharts.com/
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