Stock Chart Analysis HMSY

Posted by downtowntrader | 9/19/2007 09:45:00 PM | 0 comments »

Stock Chart Analysis HMSY

HMS Holdings Corp. (Public, NASDAQ:HMSY)

While the markets are pretty overbought in the near term, there are still some stocks close to safe entries on the long side. I mentioned how HMSY broke out of a nice base a month ago, and while it did move out, it came back for a retest of support the past week or so. While there is a chance that HMSY had a false breakout and may of topped, you still have to favor the underlying trend until it is proven. HMSY is now sitting on it's 20 day sma, after a nice move on Fed Tuesday. It may consolidate a few more days, but I believe there is a good chance that it moves to fresh new highs soon.

Good Trading,


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