Tuesday, July 15, 2008

Broadening Wedge

It appears Biotech is attracting attention currently. Here is a Broadening Wedge pattern that's taken shape in BMRN. If for nothing else, it will be interesting to watch and see how it reacts. From patternsite.com a measured move would put a break-out/-down at +/- 12%, while keeping in mind the possibility of a partial decline (explained in the patternsite.com) before the breaking move.

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