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Thursday, January 10, 2008

JFC: a Failed Ascending Triangle?

JFC's chart a failed ascending triangle? Well, ascending triangle are know to be a bullish pattern.

It breakout on the downside last January 7, 2008. Today, the issue tried to pullback towards the support line of the triangle.

Things I'm watching with this issue:
1. will this pullback to the support line level where it break and then continue downwards?
2. will this move back inside the ascending triangle?

Failed Ascending Triangle Pattern
JFC Chart as of January 10, 2008