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BJ's
Wholesale Club Inc- BJ
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February 21, 2007
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Last Trade
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$33.64
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Volume
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1,555,400
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52-Week High
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$33.69
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52-Week Low
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$25.18
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Commentary:
We've chosen to
look at BJ because today's break out of its confined trading range suggests
that we may be witnessing the end of its sideways momentum. As you can see
from the chart below, BJ has traded between the support and resistance of
$25.50 and $33 since mid 2005, but today's 52-week high has put an end to
this consolidation and traders will now watch for a move higher. We expect
that the broken resistance near $33 will now become an area of support in
the event of a pullback.
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Happy Trading,
Casey Murphy,
Senior Analyst, ChartAdvisor
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GM
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