JAZZ did not qualify the last two days as actionable even though it had a pocket pivot on both days. Given the questionable choppy action of the general market, the lagging action of leading stocks, and the failure of most stocks to trend in recent months, a stock must show considerable strength to taken under consideration. This strength can be in the form of relative price/volume strength. Since November 28, JAZZ has somewhat lagged the general market, up until today's gap up.
With today's gap up, its technical pattern redeemed itself, tilting it to being actionable.
The company announced yesterday after the close that they are raising guidance for 2012 from $3.39 to $4.00-$4.15, a substantial jump.
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