Stock Chart Analysis STJ

Posted by downtowntrader | 6/03/2007 10:10:00 PM | 0 comments »

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,


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