With a big recovery on Tuesday, a number of stocks formed hammers on the price charts. Express Scripts (EXRX) formed a hammer, but has yet to follow through and fill Monday's gap. In other words, the stock is still down for the week. Follow through above the gap is needed to confirm the hammer.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.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.
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