Don't Ignore This Chart!

Altera Forms Pennant after Surge to Resistance

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Altera (ALTR) is at its make-or-break point. The stock surged to the August highs with a rather strong move last week. This advance met resistance as the stock pulled back with a pennant last four days. Either the stock will fail at resistance or break out of the pennant to signal a continuation higher.

110921altr
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Arthur Hill
About the author: , 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. Learn More
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