Tuesday, October 9, 2007

ASPV - Sell Into Strength




(Click Directly On Chart To Enlarge)

ASPV is up 25% from the August 16 Buy Pivot of 17.51, and up 17% from the September 13 Buy Pivot. Since the Bullish Inverse H&S fractal target of 21.82 got MADE yesterday, I decided to "sell into strength" yesterday, at 21.89, going into the close.

The 50-day (dotted green line) and 200-day (dotted red line) moving averages are inverted, and ASPV is above them, so the stock is "ahead of itself," from that standpoint. It still can rally, but stocks often "tread water," and trade sideways-to-down while the 50 DMA plays catch up.

Support is the neckline and the 200DMA, roughly at 20.17-20.12, respectively.

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