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Exreme: Overbought; RSI at 72.49
Nearest Resistance: $26.40
Nearest Support: $24
For-profit education firm
Education Management(EDMC) is showing traders one of the more attractive near-term setups right now, thanks to a recent
breakout above resistance at $24. While the for-profit education industry has been under pressure for most of 2011 as new regulatory pressures threaten to derail Federal loan funding, EDMC has actually had a very bullish run for the year -- shares are up more than 37%.
resistance at $26.40, now looks like a good opportunity to take a long position in EDMC. I'd suggest putting a protective stop just below $24 to avoid against having this trade turn around on you unexpectedly if sentiment changes.
To see these stocks in action, check out the at
Overbought and Oversold Trades portfolio on Stockpickr.
-- Written by Jonas Elmerraji in Baltimore.