ActavisPharmaceutical firm Actavis ( ACT) is showing traders a similar pattern to Google's right now. But instead of converging support and resistance, Actavis' price action is getting "boxed in" by a rectangle pattern with horizontal resistance range above shares up the $130 level and horizontal support at $120. The trading implications are the same though: When ACT moves out of is rectangle pattern, it makes sense to take a position in the direction of the breakout.
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