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Peritus High Yield ETF forms bullish "Flag" chart pattern
Mar 01, 2012

Recognia has detected a "Flag (Bullish)" chart pattern formed on Peritus High Yield ETF (HYLD:NYSE). This bullish signal indicates that the stock price may rise from the close of $49.25 to the range of $50.20 - $50.40. The pattern formed over 15 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.

Tells Me: The price seems to be resuming a sharp rally after taking a brief pause. A bullish Flag pattern occurs during a dynamic market rally, representing a brief pause as the market "catches its breath" before running off again in the same direction. The pattern consists of two parallel trend lines, often sloping downward against the prevailing uptrend, and is confirmed when the price breaks through the upper boundary to resume the rise.

This bullish pattern can be seen on the following chart and was detected by Recognia proprietary pattern recognition technology.


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Recognia Alert Wire content is generated at market close by Recognia Inc. (www.recognia.com). Recognia has developed proprietary technology for chart pattern recognition and automated interpretation based on the standards of technical analysis. Recognia investment research products scan all financial instruments across covered exchanges and generate news alerts for those that have formed one of more than 25 patterns.

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