Combining short/long term trends, the stock bounced off the support of $77.5 earlier this yr. It's midway through to the resistance line and broke the 50 MA not too long ago. It may have been a good time to buy earlier in the month when it just started bouncing. A little more than 10% could have been made. It's too late now. We're at $88.
I'm waiting for the stock to either hit $95 in 2-3 weeks and brake the resistance, or bounce back down.
Since July of last yr there's been a triple top. Is a fourth forming? The increase in tops has been very very subtle. Nothing too exciting. I don't think I'll be buying unless it hits $97. The next low could easily be $72. We'll wait and see.
SUMMARY:
Stock price should be between $80-95 in the next month. If it falls short or exceeds the top, we're looking at a new trend.
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