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January 12, 2006
Gap Inc, Gencorp, Mircrosoft and Perrigo.
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Microsoft surged in early January and then formed a small consolidation (magenta trendlines). The stock moved higher over the last two days and broke consolidation resistance and this argue for a bigger resistance challenged over the next few days.
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Gap Inc (GPS) is making a bullish bid with a long white candlestick on big volume. The stock failed to partake in the January advance until yesterday. Overall, the stock formed a triangle and a break above 18.7 would be bullish.
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Gencorp (GY) had a sudden change of heart in 2006. The stock gapped down at the end of 2005 and filled the gap with a high volume advance over the last six days. This is an exhaustion gap and the move above the December highs is bullish.
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Perrigo (PRGO) formed an inverse head-and-shoulders over the last six months and broke neckline resistance with a surge over the last seven days. Volume could have been higher, but the breakout is bullish as long as the December low at 14 holds.
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Posted by Arthur B. Hill at January 12, 2006 11:59 AM