Stock Technical Analysis: LINC Breaks Out of Flag Pattern
Written by Sidney on August 11, 2009
On a previous stock technical analysis of Lincoln Educational Services (LINC), I highlighted how the stock broke out of its channel-line resistance on Aug 5 on heavy volume. Over the subsequent 3 trading days, the stock price was tightly confined within 2 parallel, downward-sloping lines, forming a flag pattern (see chart below). The buy signal was not triggered until today, when the stock price broke above the upper trend line. LINC bought today at $23.62.
Stock Technical Analysis of LINC (11 Aug 09)
Updated Portfolio
Portfolio (11 Aug 09)
Change: Buy LINC
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