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Post# of 30378
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RogueFloorTrader

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RogueFloorTrader

Re: None

Wednesday, 08/24/2011 5:54:10 PM

Wednesday, August 24, 2011 5:54:10 PM

Post# of 30378
Potential A-B-C Trend Reversal

The current intra-day chart suggests the potential A-B-C Trend Reversal pattern forming. A down trend line drawn off the tops of the long term down trend to the rebound high prior to the low formed on 8/18 is drawn. The second line is drawn at the price level of this low and the next is the price level high of the rebound (currently the .407 formed on 8/21) - the stock formed what looks like a double bottom on 8/22) - a volume break of the .407 would confirm this pattern and suggests trend change
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