Submitted by admin on Fri, 01/01/2010 - 15:43
Posted in
The stock chart for Cephalon (CEPH) has formed a double bottom. As prices broke out several days ago, this formation is confirmed. These types of formations are very prone to throwbacks, so you can wait to go long at a better price. Click the read more link for a minimum price target.
Subtract the max and min prices of the formation and add that result to the breakout point. For CEPH, this would be about $68/share.