December 08, 2009 at 19:37 PM EST
Hi-Tech Works On First Base Built Above 10
Microcap company Hi-Tech Pharmacal (HITK) is shaping its first base above 10. The provider of branded and generic drug products got an early start on the bear market. It peaked at about 32 in January 2006. It bottomed at 3.46 in December 2008. In its comeback, it broke out of a square box in June. But that base was below 10. Low-priced bases aren't included in a base count. In September, it broke out of a five-week consolidation. The pattern was
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