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Motley Fool article on ASCA; technicals
There is a very nice background article on ASCA that can be found on Yahoo news.
This is an interesting case of watching the fundamentals versus watching the chart. I would have held off buying based on the chart until the price reached or just passed, its previous high of about 32.50. That happened during ASCA's breakout this week. If you had already bought ASCA prior to this breakout, as MM had advised, I would not have advised selling into this breakout. Just after a breakout beyond a previous all-time high price for a stock is one of the best times to BUY a stock.
After this week's ASCA price breakout, it will probably settle backwards a bit in price, but probably not much. It is after watching the settling that takes place after an obvious upside breakout to a new all-time high, that is the best time to buy a stock. IMHO.
There is a very nice background article on ASCA that can be found on Yahoo news.
This is an interesting case of watching the fundamentals versus watching the chart. I would have held off buying based on the chart until the price reached or just passed, its previous high of about 32.50. That happened during ASCA's breakout this week. If you had already bought ASCA prior to this breakout, as MM had advised, I would not have advised selling into this breakout. Just after a breakout beyond a previous all-time high price for a stock is one of the best times to BUY a stock.
After this week's ASCA price breakout, it will probably settle backwards a bit in price, but probably not much. It is after watching the settling that takes place after an obvious upside breakout to a new all-time high, that is the best time to buy a stock. IMHO.
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