What a Day – Time for a Snapple!
- Posted by Greg Harmon
- on June 28th, 2012
It was a wild ride in the market Thursday with all the movement on the Affordable Care Act being upheld by the Supreme Court and European turmoil persisting. The nearly unchanged day on the S&P 500 masked a lot of intraday movement. Being Thursday as well, I am sure many traders are heading out to their favorite watering hole for an adult beverage to dull the adrenaline. Me too, but make mine a Snapple!
Dr. Pepper Snapple, $DPS
Dr. Pepper Snapple, $DPS, broke above a bull flag today on a strong white candle finishing at the high. It has a bullish an rising Relative Strength Index (RSI) and a Moving Average Convergence Divergence (MACD) indicator that is crossing positive to re-enforce the move. Over the previous high at 43.42 it now has a Measured Move higher to 46. That is nearly 6% higher than the close Thursday.
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Gregory W. Harmon CMT, CFA, has traded in the Securities markets since 1986. He has held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
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