U.S. Bancorp Still Has Upside

U.S. Bancorp: Buy

U.S. Bancorp Metastock View Chart »

This is a repeat of a buy suggestion for U.S. Bancorp (USB) on July 20. At that time, we were starting to see volume come in on the upside, and the stock was moving higher with wide trading ranges. It even left a gap behind. All these were signs of strength, suggesting a further advance was to be expected. That advance did, in fact continue well, but then the very typical pullback came in. The drop of the last week, in sympathy with the overall market, was on light volume, an indication a lack of intensity on the downside. Those who bought earlier should hold the position, I believe. New entrants may want to wait until the rise resumes. That could be accomplished with a buy stop order just above the top of the downsloping flag. ...250 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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