Is it time for Laboratory Corp to Pop?
By:
Sharp2Be Thursday, May 01, 2008 11:32 AM
I know, I know, I write so much about this stock… I’m aiming for $85, that’s right. This morning I’m looking at two view of it, a short term Daily and a 15 minutes…
After getting a sense of the big picture by looking at compressed (6 months) daily and Weekly charts I like to at daily charts for the last say 30 days…
The daily chart shows very strong support at $73, rock solid — of course, if it breaks this level you should kiss it goodbye. Note the action after breaking the downtrend in 04/15, it’s clear the push is to the upside.
The intraday chart is as of 05/01/08, around 10:45am (yes, I work of course). Note how it just rejected the $75 level and is pushing to break to the upside… will it happen soon? We don’t know, stops are in place at $73…
Good luck to you.
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