Re: [listmg] Broadrange (BR)

From: John L.
Sent on: Tuesday, April 23, 2013 6:18 PM
Thank you Alan.
On Apr 23, 2013, at 5:25 PM, Alan Gordon <[address removed]> wrote:

Broadrange has been supported by the 50 and the 200 mda for quite a while.
 
This stock is pretty choppy. It really hasnt definitively gone anywhere in years. The one good thing is that they keep raising their dividend.
BR broke through resistance at 24.25, but has not gone much higher.  There is another band of resistance around 24.89, +/- a nickle.
 
24.70 could also be resistance, it has reacted at that level at least twice in the past.
24.72 is a minor Fibinacci leved as well.
Stochastics are saying it is a bit overbought, but,
Accumulation/ Distribtion is positive, so money has been flowing into it...
And On Balance volume has been rising..
 
It is forming a bit of a wedge, with the upper band coming down to about 24.67 on the daily. The upper band stoped it it short from going up today, a very strong up day.
 
 
There is nothing compelling either ay to go long or short, in my opinion. You want to put the likelyhood of it going up (or down) in your court...this isnt it. Wait for the pattern to be broken either way.
 
Any advice if you are already holding would depend on when you bought. 

I would like to discuss Broadridge Financial Symbol BR hit the third peak  since 7-6-11.  I am looking for opinions.
John Locascio
 




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