Advent Software (ADVS) – 04-09-2009
ADVS has been putting up solid growth stock numbers and is the type of stock I would have been all over in a bull market. We’re already forming a third base (but it’s not there yet), so even in a good market there would be a decent chance of running into a correction. I still think we’ll have another leg down across the market, so that makes the correction even more likely. You can really tell the strength of a stock in the face of adversity, so I’m interested in seeing how this one responds.
Triggers
- Above $35 – consider trading momentum up
- Below $30 – look for signs of bearish patterns like head and shoulders
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