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Prgo-23/12/12

|Includes:Perrigo Company (PRGO)

(click to enlarge)Click to enlarge= the price of PRGO broke through the 50 and 200 M.A. a pattern considered as a bearish signal.

worst than that- the last couple of days created s "death cross" when the 50 M.A. broke below the 200 M.A. .

the fact that the market is not willing to buy PRGO above $105 means that we ran out of buyers at the moment- in other words PRGO is over priced.

we are probably witnessing a weekly sideways pattern between the levels of $118/$120 and $100.

if that is the case as long as PRGO stays below $105 i expect it to continue with the down trend to the support level of $80.(click to enlarge)

Stocks: PRGO