Monday, December 24, 2007

Get Ready to Sell URS


URS has bounced off nicely from the level I recommended to buy at (200 sma: 51.50) and is currently trading at 55.82. Although I think this stock could still have more to go, I would take start to take some off now. A downward sloping 50 sma is right above here and could provide some formidable resistance. It seems very likely that the stock will hit that level and bounce off to come back down to the 200 sma before trending higher again.

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