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Finance Firm Extended After 10-Day Winning Streak
Thursday, October 15, 2009   CANSLIM.net
 

Credit Acceptance Corp (CACC +$0.19 or +0.52% to $36.50) posted a 10th consecutive gain for a new high close well above its "max buy" level.  Prior chart highs in the $32 area are now an important support level to watch on pullbacks.  Disciplined investors might watch for a light volume pullback to offer an opportunity to accumulate shares without chasing them more than +5% above its prior chart highs.  The high-ranked Finance-Consumer/Commercial Loans firm found prompt support near its prior chart highs during a brief pullback immediately following its 9/29/09 breakout with a considerable gain backed by more than 2 times average volume.  Since triggering a technical buy signal we have noted that, "There is no overhead supply to hinder its upward price progress."  However, it is now extended from its latest sound base, thus it is no longer buyable under the investment system guidelines. Since featured it has also risen above its 2006-2007 highs ($33-34) to new all-time highs, which is a very reassuring sign of strength. CACC was featured in yellow in the 9/29/09 mid-day report (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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