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Wednesday, May 25, 2011

HEI

HEI was one of a few earnings breakouts, and probably the best looking. It formed a very short cup and handle pattern that has a dip at the bottom, which would be considered a flaw. The price relative line, though, is pretty strong, and almost broke out to a new high before price did. Not an ideal chart, but during corrections, sometimes this is about as good as you will get.

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