New Oriental Education (EDU) – Kaboom!: Bouncing After Touching Support

March 15, 2012 11:47 am

On March 8th, TriggerPoint Research issued an ALERT! on New Oriental Education (EDU). The support was drawn at $26.17 and that level was touched multiple times over the previous 4 weeks. The reversal bounce today was on volume about 120% greater than average through 11:30am on most days.

The price still needs to clear  $27.75 to see a potential for a short squeeze. But this should be a name on the radar.

More information on this and other ALERTS! can be seen at TriggerPoint Research

Note that a 14-day free trail is available for the Pro-Package.

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