After a surge with good volume in October, Altera (ALTR) corrected with a falling wedge the last 2-3 weeks. Also notice that the stock exceeded its September high with the October surge. The falling wedge looks corrective and a break above last week's high would signal a continuation higher.
Click this chart for a live image
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.
Learn More
