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Tuesday, February 18, 2014

IR 2/18

Lets have a look at the daily chart of IR.


IR had a rather large gap down late last year.  It filled some of that gapm but has pulled back again.  It is currently testing its 50 DMA from below for the second time in the last few days.  This looks like an important decision point.  A break above the 50 DMA could send IR up to the 100 SMA or maybe further up into the gap.  A failure here at the 50 could send IR back down to test that Dec. low.

Bob

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The information in this blog is provided for educational purposes only and is not to be construed as investment advice.