Sunday, November 14, 2010

Chart of the Day

Today's Chart of the Day is PDE. A nice bounce from MA(20) on Friday. The relative strength shown on the kind of day that we had on Friday is encouraging. I particularly like the bullish volume pattern since the breakout. Watch out for a break of 33.75 on this one!

Let's have a look at the weekly chart now. You might call it a cup and handle pattern here although another week of "consolidation in the cup" would have been nice. But the important thing to note here is that the stock has a lot of room to run after a break of 34.75.

Here is the watchlist for next week.

Take care and good luck!

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