Stock Chart Analysis DV
DeVry Inc. (Public, NYSE:DV)
I've mentioned a few times recently on twitter, that education stocks have been quietly improving. DV, is a perfect example of an education stock that has been improving, after threatening to breakdown from a multi-year base in May. It grinded out a bottoming pattern from March through early August that could be classified as a reverse head and shoulders. It seems like DV really started acting a lot better once it was announced that it was replacing GM in the S&P500 back in June. It set a higher low on the last pullback, and just recently cleared the base it has been building. It is currently testing the breakout by consolidating just above the prior resistance. If you step back and look at an all time monthly chart, the chart actually looks quite bullish, with DV not too far off new all time highs. If DV can get over the recent high near $53, it looks like it could run another 10 points on its way to test the January highs.
Good Trading,
Joey
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