Walgreen's news is sending it to new 52-week highs, a bullish signal for the same reason that the new lows in Affymax are bearish. Making new highs is significant from an investor psychology standpoint because it means that everyone who has bought shares in the last year is sitting on gains. As a result, the "back to even" mentality is less of a concern than it would be for a name with a higher proportion of shareholders sitting on losses.
Investors who aren't too risk-averse may want to consider buying here.
Hospitality Properties Trust
Nearest Resistance: $27
Nearest Support: $23
Catalyst: Share Offering
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