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Charts courtesy of stockcharts.com

Tuesday, September 13, 2011

EDR

On planet Earth, when a stock breaks down below the 200dma on high volume, it is about to crash. On whatever planet it is I've been transported to, a stock like EDR breaks the 200dma on high volume, immediately reverses, and about a month later is breaking out to a new high. This doesn;t look quite as mysterious when you take a look at the price relative line, which barely budged during a roughly 20% collapse in price.

2 comments:

Michael said...

Hi Dave,

That's a chart of EDR not UAN.

David said...

Thanks!


I guess it's been one of those days.

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