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actively managed portfolio is the system for you.
Breakouts
for August 9th: The first pick, GMR, surged on the woes in Alaska's Prudhoe Bay. The break of $38.22 resistance was supported with a confirmation breakout in on-balance-volume and a new 'buy' in the MACD trigger line. Look for a measured move forward, to take it towards a test of psychological $50 resistance. Major resistance lurks at $44 from 2005, but the stock is shaping a new base and this should lead to higher prices. The point-n-figure chart shows a double top breakout from June 23rd with a (reasonable) price target of $56. The reported 7.00% yield is an added benefit. The second pick, HA, is slowly digging itself out of a 4-month decline. The company has seen lighter traffic, but its recent earnings release failed to generate a sell off, in line with its recent price declines. Breakouts in on-balance-volume and slow stochastics, combined with a long-standing bullish divergence in the MACD, should see higher prices from here. The stock has entered the no-mans land of between the 50-day and 200-day MAs, and the point-n-figure chart is neutral for both price pattern and price objective. Perhaps best to accumulate over time. The third pick, VTIV,
broke from a 4-month declining resistance trend as the company reported a doubling of Q2 profits. Solid gains in price, went with modest upticks in on-balance-volume and the MACD. Slow stochastics are relatively flat, but the -DI trend line is showing a weakening bearish trend. Tuesday's gains were enough to break through the 50-day and 200-day MAs. Unfortunately, it looks like a push to $34 will be necessary to reverse the bearish point-n-figure price objective of $19. On a final note, Yahoo! is showing two, 100 share trades, sold during after hours at $13.23. The trades look to be a glitch, but if this opens down 55% then all bets are off.
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