Playing the Breakout Trading Range: IPHS - The Market Speculator

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Playing the Breakout Trading Range: IPHS
Aug 21, 2008 02:30 AM UTC

The Market Speculator

Return	Risk
-9.11%	HIGH

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Symbol	Sentiment	Start	Return	Closed
IPHS		08/21/08	-33.60%	--

Via The Market Speculator:

IPHS broke out in early August and is now developing a trading range between the breakout highs and lows. This has created a low risk set up. I would like to buy on a pullback to the $33-35 range with a target of $40 and a stop around $31-32.

Overall, the stock shows a nice volume pattern, stochastics are oversold and we have a nice uptrend in place. The only concern is the negative RSI

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