Technical Analysis of Financial Markets

Tuesday, August 26, 2008

Big Lots, Inc (BIG)

Having rallied 190% within an 8-month period since Jan 2008, US retailer Big Lots, is currently consolidating into a bearish Double-Top formation with a negative volume and RSI divergence against price action. An entrance into a short position with stop on close above $35 may serve as a low risk trade for an initial price target towards the 38.2% Fibonacci retracement level of the rally.

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