Don't Ignore This Chart!

A Hammer and Gap Lead to Breakout at Qlogic

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The hammer and gap play is everywhere this week. It started with an intraday recovery on Monday and continued with a gap-surge on Wednesday. QLGC formed such a combo over the last three days and broke above the early April trendline.

110420qlgc
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Arthur Hill
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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