Thursday, June 28, 2012

Chart of the Day

Today's Chart of the Day is COST.  Like the general indices, it rallied quite nicely from its intraday lows today. In its case, it bounced from close to MA(20) and managed to close positive for the day, ending above a key resistance level in the process.

Today's price action completed over a week's consolidation period after a decent run up earlier this month. Also note the bullish volume pattern over this entire period of extension, consolidation and finally the breakout move today.

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Take care and good luck!

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