Chart Request: Allscripts, Inc. (MDRX)
Barrett wanted a chart of MDRX:
Forming a triple bottom with lower highs after each bottom…what do you think? I am kind of new at this technical analysis.
I do see that potential triple bottom. But I think that, similar to a double bottom, it won’t be confirmed until the stock trades (closes?) above mid-point(s).
What really jumps out at me about this stock is that it’s just going sideways. If I really wanted to play it I’d wait until it broke out of the top of its range. Besides the sideways action the fact that it’s under its 50-day moving average and its downward sloping September - October trendline would certainly keep me from buying the …
tagged: Allscripts-Inc.-(MDRX), Bearish-Divergence, Confirmation, Double-Bottom, On-Balance-Volume-(OBV) and Triple-Bottom
