Stock Chart Analysis R

Posted by downtowntrader | 8/08/2007 08:30:00 PM | 0 comments »

Stock Chart Analysis R

Ryder System, Inc. (Public, NYSE:R)

R has been trading in a huge base for almost a year. The base also looks impressive on a weekly chart with a very nice increase in volume here as it attempts a breakout. On the daily chart the base resembles a reverse head and shoulders, although the label is not quite that important. What is important, is that the stock has gone through a healthy consolidation and is challenging to break to all time highs. It pulled back today to near the breakout area on an ugly candle, so it may be best to wait for it to settle down, but it is definitely worth watching the next few days as the overall pattern is very promising.

Good Trading,


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