July 22, 2013 at 18:46 PM EDT
Some Leaders Show Good Action But Watch Base Count
A good number of Big Cap 20 stocks are near buy points or in buy zones. Others are showing constructive chart action. The drawback? Some of the stocks are later-stage patterns. Generic and branded drugmaker Actavis (ACT) has shaped a flat base. The potential buy point is 133.10. The base, however, is third stage. As a stock rises, it pauses to consolidate or build a base. Research shows breakouts from the first two bases are more likely to work
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