AMERIGROUP Corp. (AGP $44.85) has been holding up very well in a market where we have been reading about numerous other leaders getting hammered back below their 50 day moving averages. Today's action was very impressive, and the stock was actually near challenging its recent highs on better than average volume despite the market having yet another down day. You will also notice that while the stock was pulling back over the past several days,  these declines were on low volume and it stayed above its prior base of support.  We never want to see a stock roll back into its previous base or break under its 50 day moving average line.

Our June 2003 issue of CANSLIM.net News featured AMERIGROUP (here) on June 2nd as the stock was showing excellent potential. The June chart indicated that it was an attractive buy choice at a price near $35. The stock gave us a very nice run-up, retreated, and then went up again to establish a new base at around $41 - all the while trading above its 50-day moving average which was rising nicely.

On September 10th  we again featured AGP in a Stock Bulletin at $42.53 (here) as the stock seemed poised for a another good breakout. This gave our subscribers an excellent chance to do some additional research on this stock while it was getting ready for its next high-volume breakout. On Monday, September 15th (see blue circles) it did break out, with a sharp rise of $3.13 on very heavy volume.  Since AGP was first featured in the June issue of CANSLIM.net News, it has gained +28.94%
 

Shares Outstanding - 20.7 Million  | 50-Day Avg Vol - 203,400
Prior 4 Quarterly earnings % Changes: -2%;+10%;+34%;+37%

More Info:5-year Chart from BigCharts.com
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