Aspv has completed a break out from an ascending triangle formation. The stock is pulling back at the break out area today and that gives us the entry point with a stop right beneath it at 21.90. Next area of resistance is the gap area and then $27-$28. Fundamentals are very strong on this one with extremely low pe and good growth. http://finance.yahoo.com/q/ae?s=ASPV
I would like to point this chart out as an example of how hard is for the bears out there. HMIN which is a budget hotel operator in China recently broke support at $34.00. The break down came on accelerated volume attracting excited bears (thank GOD I was not one of them) only to skin them alive with a head fake. Most short setups simply do not work in this market.
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