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Looking for Turning Points



At first glance Phelps Dodge (PD) hardly looks like a stock you want to take on from the "dark side". But there are divergences emerging worth keeping an eye on. On the daily, On Balance Volume has failed to make new highs with the stock price and stochastics are off the chart overbought. On a 10 minute chart the stock has gapped down two days in a row. A close below yesterday's low could lead to some tradable damage. Just sharing the "eyes" and not advice.

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