Tuesday, September 29, 2009
SVA: Falling Wedge
From Sept. 25, on SVA:
"The stock now appears to be looking for Data Point #4 of a Falling Wedge from which to attempt a rally. A continuation lower could morph that possibility into a Falling Channel."
SVA rallied off that 7.51 low, so it looks like Data Point #4 is in. The top of the Falling Wedge comes in today at 8.869. The slope of that trendline is 0.1911, so subtract that amount each session to watch for a possible technical breakout, or failure. It will come in on Wednesday, Sept 30, at 8.678.
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