Wednesday, May 15, 2013 10:28:40 PM
As far as a breakout, there is nothing that really signals to me that this is ready for a breakout. The RSI is middling, as is the MACD. The price channel has remained narrow as has the bollie bands. The slow stollies were tight up until today and then they spread out - which mean the run has already probably happened this go around. The money flow index is getting ready to green bag it, which means it's probably topped out for this go-around and is slightly overbought, so we'll have to retrench. The force index is really the only positive this I see here - if it keeps up the momentum, it could create some nice MOMO to break through all the technical indicators - but you're going to have a tough time convincing the pros that have the money to move this to actually buy in with all the other middle-of-the-road indicators. On the other positive side, accumulation picked up today, which basically means all the volume was driven by buyers today rather than sellers - so that's nice.
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