Monday, February 04, 2008

Star Scientific (STSI)

Star Scientific (STSI) has little in the way of news to drive price action, but the stock is nicely placed following Friday's positive test of Support. The stock featured to Subscribers for January 15th [$] at $1.15 and again for January 25th [$] at $1.49. January 17th saw a triple top breakout on the point-n-figure chart with a price target of $3.75; a move to the huge red candlestick from early 2007 is a potential upside target. Technicals remain firm with strong gains in the MACD trigger line under steady accumulation by on-balance-volume. Support runs in a band between $1.40-$1.45 - stops can go 1% below this level (or thereabouts).

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