TD Ameritrade Has Finally Found Support

Late last month TD Ameritrade Holding (AMTD) was extending its deep selloff from the January peak. This steep pullback began with an ugly breakdown gap on Feb. 2 following Schwab's trade commission cut. By the end of March AMTD had fallen more than 20% since then and was testing its 200-day moving average. However, the stock has stabilized over the last two weeks, and now appears to have finally found a bottom.

TD Ameritrade (AMTD) Chart
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As downside momentum began to ease, while AMTD reached its third straight lower monthly low, the stock entered deeply oversold territory. This phase of the post-January selloff appears to have become exhausted just as major support comes into play. If the stock can continue to hold the recent lows a substantial rebound may be develop soon....64 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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