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Wednesday, June 12, 2013


There weren't many compelling charts today, but there was one I wanted to look at for a couple of reasons. ADUS is currently one of the strongest stocks in the market, with a rapidly rising price relative line, but there are a few reasons why I am not currently looking for an entry point. For one, price is more than double the 200dma, a point at which O'Neil believes is a sell point and not a buy point, and it is at the top of the range projected by two prior pivots, and is hitting resistance at that level. If it van break through that upper line on high volume, I may be interested, but I suspect it will do some consolidation first to let that 200dma catch up a little. Otherwise, I think he longer term prospects for this one are pretty good.

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