Nigel has been in the regulated financial services industry for nearly a decade, has previously owned a financial brokerage and has written many times for sites relating to personal finance and trading.
After a 47% run from May lows, it was to be expected that one of the last year's leaders would correct a bit. The stock found support on its rising 50MA and around $350 zone. On Friday it closed right around the downward sloping trendline which it broke the day before, and if it is able to stay above it, we could be on a way for a new leg up as the stock is still favored by institutional investors.
The downside is that all of the action occurs below the 200-day MA (yellow line), so these moves might be more prone to failure.
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