VPHM - After Earnings

Posted by downtowntrader | 11/08/2005 01:08:00 AM | 0 comments »

VPHM never came close to violating the trendline on the hourly chart. It had a very strong close and although there was distribution early, there were signs of accumulation near 23.
The daily chart shows a nice breakout on huge volume. They reclaimed the mid-line which implies that it may trade to the upper trendline. There is pretty good momentum here, although there was a lot of profit taking today.