Stock Chart Analysis AIRM

Posted by downtowntrader | 1/09/2008 11:04:00 PM | 0 comments »

Stock Chart Analysis AIRM

Air Methods Corporation (Public, NASDAQ:AIRM)

AIRM has a chart that I am looking for more and more each day. It is a stock that has outperformed greatly over the past year and which appears near the end of a correction. It has been pulling back in an expanding wedge like pattern and looks like it is trying to form a higher low here. The key here, is not the chart pattern or what it's named. It's the fact that a range has been established and that it may not honor the full range this time. If that turns out to be the case then it shows that bulls are becoming more aggressive by not waiting for the full trip to the bottom of the pattern. This would lead to an eventual breakout and thus a higher high. Of course this is a hypothesis at this point, but it merits watching.

Good Trading,


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