Don’t Miss a Beat, a Possible 18% Move in the Making

• Posted by Greg Harmon
• on February 18th, 2014

Bio Telemetry, $BEAT, is a small stock that is ready for a big move. The Premium Service highlighted it 2 weeks ago and it ended up gapping higher in the pre-market for a no trade situation. But after some consolidation it is testing resistance and looks ready to go. The chart below shows why. The price is peeking above the previous resistance level (purple line) and all of the Simple Moving Averages (SMA). The other indicators shown, the Relative Strength Index (RSI) and MACD, both measure momentum and show it increasing as well to the upside. The Bollinger bands are opening higher to allow a move as well. Classical technical analysis suggests a Measured Move higher to 10.76 if the move over 9.10 holds. This would be right to the previous red consolidation zone.

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