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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (46492)	1/18/2011 6:18:05 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 68251

Most of the support came in at $15.00. It is a modestly strong stock but not one of the leaders, The leaders have established a new high above their May highs now. The stock is slightly overbought, but no sell signal has been triggered yet. It has come close though. I would defer to the averages which are up, but would not open any positions at this point. Overbought and approaching a resistance level at $15. A lot of older buyers are now even and looking to get out. Short term the stock looks overbought, it needs blowout earnings to go higher and it may be a case of sell the news. Definitely a laggard stock.