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04/09/04
17:11
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Last week i said WMR would not break 5.15 and would fall thru 4.85 to 4.70 after the divi.
Friday we hit 4.77. think it should give 4.70s another go on Monday.
I now expect a bounce back to $5.00 to fill the gap.
Look to pick some up around $4.75/80. Watch the Slow Stoch, its turning and is a good indicator for this stock.
This stock is in a long term up trend, currently trading in a short term down channel.
1st Resistance at 4.68/71 = this should be your stop loss. A break of the channel here I think will see it break thru the 4.62 support and go to 4.30s
IMO limited downside possible 30c profit...
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