Stock Chart Analysis BLUD

Posted by downtowntrader | 5/17/2007 09:18:00 PM | 0 comments »

Stock Chart Analysis BLUD

Immucor, Inc. (Public, NASDAQ:BLUD)

BLUD is setting up for one of my favorite plays. This setup works best in a bull market as I am buying weakness in a trending stock. BLUD broke out of a broadening wedge on a nice increase in volume as has since come back to retest the breakout. Usually the previous breakout area holds as support. It is now tracing out a little double bottom on the lower bollinger band which also coincides with the rising 50 day moving average. If BLUD holds this area as support, new highs should follow shortly.

Good Trading,


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