ITM.Trading
Short

ADX turning, DMI+ diverging, MACD cross and large negative vol

NASDAQ:CGNX   COGNEX CORP
101 0 0
Large negative volumes in CGNX             coupled with divergence in the DMI+ line may indicate the trend is beginning to turn.
This is further confirmed with the presence of a crossed MACD and large negative volume indicating distribution from large holders. Stop above the psychological $50 level which is also a new high. Target of $46.70. At current prices this is an attractive risk/reward proposition.
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