Technical Trade of the Day

Amdocs (NY:DOX) has been moving higher off last week's upgrade from Goldman Sachs, albeit on much lower volume (that's an ideal scenario.) As the stock approaches resistance at $36, look for volume to expand and push the price above that level. The low point of the trend to the breakout is $3.10, giving us a profit target of approximately $39. Keep an eye on this stock as it approaches the resistance level.

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http://www.traderology.com/main/2007/03/21/ascending-triangle-breakout-on-amdocs/

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