Monday, May 7, 2012

UPDATE: JNJ in long term price compression - potential for a move?

UPDATE:  A fabulous false break down and massive reversal/accompanies with massive volume as well - a classical example of the importance of proper stops.



On Friday 25th, the price opened gapping down, and plunged, recovered to test the resistance/trend line and gradually traded down for the rest of the day, ending the day off almost a full percent.  This occurred on only avg volume so trading on 31st will be an interesting tell.






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