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>>5 Dogs of the Dow to Stomp the Market
From a technical perspective, CHCI bounced higher here right above its 50-day moving average of with lighter-than-average volume. This move briefly pushed shares of CHCI back above its 200-day moving average of $2.13, before the stock closed just below that level at $2.10. Shares of CHCI are now quickly moving within range of triggering a big breakout trade. That trade will hit if CHCI manages to take out Tuesday's high of $2.17 to some past overhead resistance at $2.20 with high volume.
Traders should now look for long-biased trades in CHCI as long as it's trending above its 50-day at $1.94 and then once it sustains a move or close above those breakout levels with volume that hits near or above 105,114 shares. If that breakout hits soon, then CHCI will set up to re-test or possibly take out its next major overhead resistance levels at $2.60 to $2.80, or possibly $3.