Friday, May 02, 2008

Forrester Research (FORR)

Forrester Research Inc. (FORR) featured in my newsletter [$] as a stock testing triangle support at the 200-day MA. A couple of days after it's initial feature the stock created a bullish hammer at triangle support. What followed was a steady rise to resistance, with the breakout completing earlier this week on the back of earnings. Yesterday followed with a successful backtest of $28.35 support.

The point-n-figure chart fell a penny shy of a triple top breakout, with a current upside target of $43.

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