Stock Chart Analysis STJ

Stock Chart Analysis STJ

St. Jude Medical, Inc. (Public, NYSE:STJ)

STJ has been consolidating some recent strength and in the process has formed a nice cup and handle base. This is a variation called a cup with a high handle, where the handle is forming above the left rim of the cup. I prefer these because it is basically a consolidation above previous resistance, further confirming this area as support. It also gives you a convenient place to set a stop loss if the trade goes sour.



Good Trading,

Joey

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