TwinTrader.com announces the publication of Breakout for FRED; highlighting public companies on the move and what’s behind the surge.
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“Fred’s Inc. and its subsidiaries engage in the sale of general merchandise through its retail discount stores and pharmacies in the United States. Its stores and pharmacies offer pharmaceuticals, household goods, apparel and linens, food and tobacco products, health and beauty aids, and paper and cleaning supplies principally to low, middle and fixed income families…
“Fred's total sales for the month of August were $129.2 million, up slightly from $129.0 million in August 2007, with the year-over-year change reflecting the Company's previously announced program to close 75 underperforming stores and 22 underperforming pharmacies in 2008…
“Freds’ stock looks very strong. And an upward trading band has been established giving traders a nice boundary to time its trades. A breakout above $15 comes at a time when the RSI is still reading neutral and the MACD faster oscillator crossing the slower oscillator, indicating recent bullish technical developments...”
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