Stock Chart Analysis ASCA

Posted by downtowntrader | 5/29/2007 08:47:00 PM | 0 comments »

Stock Chart Analysis ASCA

Ameristar Casinos, Inc. (Public, NASDAQ:ASCA)

ASCA just recently broke out to new all time highs and is in the process of consolidating the breakout. It has formed a falling wedge pattern which is usually a bullish continuation pattern. It is pretty close to it's 200 day simple moving average and may find some institutional support here. There are other casinos looking pretty decent right now, so it's sector may help it out as well.

Good Trading,


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