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Friday, August 8, 2008

URBN

One of the IBD 100 (I think) that has a near textbook double bottom base. The true breakout point here is 34.34, but today was the day where we got real breakout volume. Notice that relative strength broke out as the base was forming it's middle peak. An astute observer (not me, of course) should have seen this bounce right off the 200dma and picked this up.

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