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Mar 24, 2015 4:47 PM

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

Cognex CorporationNASDAQ

Description

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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