Technical Analysis of Financial Markets

Thursday, December 14, 2006

Blockbuster, Inc. (BBI)

BlockBuster seems to have consolidated a 4½ year downtrend into a Double Bottom formation. Price target for a Double Bottom formation can be measured by taking the height of the Double Bottom 'W' pattern and projecting it upwards; - a price target of around $6.75, or a gain of around 27%. The stock has been up some 16% already since CEO John Antioco spent $1 million in a share buy-back a month ago:

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