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Monday, June 18, 2012

EBAY

EBAY was the breakout of the day, with a very bullish pattern. After a gap up in April it went basically sideways while the rest of the market was correcting, a sign of strength as evidenced by the rising price relative line. It did not quite hold the bottom pivot point during the patternm, not unusual during corrections, but quickly got back above it. The resistance it broke through today was possibly the middle point of a larger range, with a top at 44.73.

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