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Thursday, January 17, 2013

CBS

Among the leaders in relative volume was CBS, but this was actually a follow on move to a prior breakout, which would put he breakout point lower than the previous high. That only really makes a difference when trying to project a target price: jn this case it hit that target, then dropped to form the dreaded black candle. I suspect this won't be going much higher anytime soon, but could become attractive it it pulls back in to the bottom of the gap.

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