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Wednesday, March 14, 2012

MGAM

Most of today's breakouts pulled way back from their highs and a large number finished negative for the day, so the ones that did not do that really stick out. MGAM was the one that had highest relative volume, and it did close at the high. This is one of those bullish flag patterns (not the O'Neil high, tight flag, but pretty close to it). It has an implied target of 13.39, and at this rate it sure looks like it has an excellent chance of getting there.

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