TwinTrader.com announces the publication of Breakout for DIET; highlighting public companies on the move and what’s behind the surge.
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“eDiets.com Inc. engages in developing and marketing Internet-based diet and fitness programs primarily in North America. The company offers various diet plans according to an individual's weight goals, and food and cooking preferences, as well as provides subscription-based weight loss oriented meal delivery services. It also offers message boards on various topics of interest to subscribers, such as online meetings presented by licensed mental health counselors, registered dietitians, and certified fitness trainers, as well as offers online information, communities, education, and telephone and online support…
“The stock has been plagued by short selling that has exhausted itself, creating a short-covering rally since mid-August. There is no news to inspire active buying in the stock. Unless earnings become apparent, the stock may attract short sellers once more. It’s also possible that insiders have “painting the tape” on eDiets’ shares…
“After extreme and lengthy oversold readings, the stock has emerged through a combination of fresh buying, but also through a lot of short-covering. RSI reads neutral; and MACD has been bullish since mid-August...”
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