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                                              Chart courtesy of www.stockcharts.com ( click to enlarge )

Looking at the technical daily chart the stock might drop to 60-62.50. This view would be valid if the stock fails to move past the resistance zone at 68.08 ( 200-day moving average ) again. A close above this level would have positive implications and propel the stock into the next leg of the bullish trend. I continue to be bullish on the company and a move to the 75-80 range is not ruled out. Remain invested with a stop-loss at 62.50. Let’s keep an eye on it.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations. The charts provided here are not meant for investment purposes and only serve as technical examples.

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