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Invested Central Chart of the Day 12.29.10

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Published on Dec 28, 2010

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RLD is a $1.3 billion consumer discretionary company that licenses stereoscopic three-dimensional or 3D technologies internationally. The company licenses its RealD Cinema Systems to motion picture exhibitors that show 3D motion pictures and alternative 3D content. RLD ran into recent technical difficulties as its price continued moving higher, while its MACD topped and began to fall. The price highs reached in both early and late December were accompanied by lower MACDs, a sign of slowing momentum. That resulted in a very quick onslaught of selling and RLD fell rapidly to its 50 day SMA. The MACD is quickly approaching its centerline as well. Also note that the RSI has dropped to 43. Readings on the RSI generally do not fall beneath 40 during uptrends. All of this suggests there's a strong possibility that RLD is at or near a short-term bottom. We like entry from the current price down to gap support at 24.00 with a target of 30.00-30.50 to test recent highs.

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