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Charts courtesy of stockcharts.com

Wednesday, February 16, 2011

AAN

AAN has one of those annoying spikes (IBD calls them ":icebergs") which screw up charts and lead to late new highs alerts. In this case, however, it seems to fit in the pivot points, and the fact that today's low nearly touched it reinforces it at a pivot piont (has today's low hit it to the penny I think I would give up charting and take up voodoo). It is now a support level, and at this point, if I was inclined to buy this pile of crap, would wait to see if it did retest.

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