HOLI - Hollysys Automation Technologies, Ltd. Message Board

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Technology Stocks : HOLI - Hollysys Automation Technologies, Ltd.

HOLI 26.42

0.0%

Jul 26 4:00 PM EDT

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From: FHM	7/24/2009 4:41:16 PM
	of 53

Third new 52-week high for HOLI this week "Ascending Triple Top Breakout" on July 23 and a bullish target on the P&F chart of $15.25 stockcharts.com WHEN it hits $15.25 is the only question, IMHO it will pivot in large measure on this past quarter's numbers when released and especially the forward guidance the company gives to the market <<A triple top breakout is similar to a double top breakout except that the price at which the breakout occurred is a price that the chart retraced from two times before. This implies that the price level is a more significant area of resistance (area where sellers are willing to sell the stock and create supply that outstrips demand) than what is seen on a double top. The breakout above this level implies that the buyers are now creating more demand than there is supply and therefore the prices are breaking out.>> stockcharts.com

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