Great breakout today on FMD! It snapped $4 and is currently trading above $4.50! The important area to hold here is $4.50 for a move towards $5.

From last night:

(FMD) A breakout over $4 is imminent! $4 break is a good buy in my opinion.

FMD - First Marblehead Corp has dropped quite a bit in recent months. If it can move above $4 that will break a double top and turn into a multi day move towards $6.00. If it really gains momentum this could fill the gap back towards $8 if you look back towards mid April. Watch for a dip Tuesday and if it gains strength and breaks through $4 definitely put it on watch for a buy.

View last nights scans HERE and HERE.

Tags: FMD

This entry was posted on Tuesday, June 17th, 2008 at 10:04 am and is filed under Plays, Recaps. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.