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Positive Reversal After Intra-Day Pullback Under Max Buy Level
Friday, October 02, 2009   CANSLIM.net
 

ArcSight, Inc. (ARST +$0.05 or +0.22% to $22.44) positively reversed after early losses led to a brief intra-day dip under its previously cited "max buy" level.  It has stubbornly held its ground near all-time highs after a consideable 5-fold rally from its November '08 low. It also has encountered very little distributional pressure since its latest breakout, and since its last appearance in this FSU section on 9/17/09 under the headline, "Healthy Post-Breakout Action".

Prior chart highs and its 50-day moving average (DMA) line closely coincide now as a very important support level to watch on pullbacks. Deterioration back into its prior base and under the 50 DMA line would raise concerns and trigger technical sell signals. Remember, disciplined investors avoid chasing stocks more than +5% above their pivot point, and always limit losses by selling whenever any stock falls 7-8% from their buy price. ARST was first featured in yellow at $19.91 in the 9/01/09 mid-day report with an annotated daily graph (read here) and it was also featured with more detailed analysis in the September 2009 CANSLIM.net News with an annotated weekly graph (read here). 

About : Kenneth J. Gruneisen - Passed the CAN SLIMĀ® Master's Exam
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.


Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities.
You can contact Kenneth J. Gruneisen - Passed the CAN SLIMĀ® Master's Exam at kengruneisen@gmail.com

 
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Kenneth J. Gruneisen founded Gruneisen Growth Corp. (2003), which prior to May 11, 2015, operated CANSLIM.net and CANSLIM.com both under license from Data Analysis Inc. / Investor's Business Daily. Kenneth has passed the CAN SLIM® Master's Exam. Gruneisen Growth Corp. now continues over two decades of fact based market analysis via FactBasedInvesting.com.

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