That's because CRUS has managed to catch a bid above its trendline support level, a move that means that the uptrend is still intact for this stock. After all, in spite of the pullback today, share are still up more than 133% year-to-date. With that in mind, it may be tempting to jump into shares here -- but I'd recommend waiting. Instead, hold out for a bounce off of support this week. That's an indication that enough buyers exist here at support to keep the rally afloat.

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At the time of publication, author had no positions in stocks mentioned.

Jonas Elmerraji, CMT, is a senior market analyst at Agora Financial in Baltimore and a contributor to
TheStreet . Before that, he managed a portfolio of stocks for an investment advisory returned 15% in 2008. He has been featured in Forbes , Investor's Business Daily , and on CNBC.com. Jonas holds a degree in financial economics from UMBC and the Chartered Market Technician designation.
Jonas Elmerraji is the editor and portfolio manager of the Rhino Stock Report, a free investment advisory that returned 15% in 2008. He is a contributor to numerous financial outlets, including Forbes and Investopedia, and has been featured in Investor's Business Daily, in Consumer's Digest and on MSNBC.com.

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