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Wednesday, September 1, 2010

MSB

MSB formed a pretty deep cup and handle pattern which found support at the 200dma. The actual breakout point is debateable here, since there ae two high points on the handle, but it looks to me like the first one is the proper brekaout point, with the second being a failed breakout attempt. Unfortunately, now that it has hit a new high and got my attention, it's over extended from the breakout point.

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