IBD says RANGY's handle formation is near perfect with respect to low point from 14.59 to 12.80 is about 12% decline (Within 15% desired) except one day volume on downside was high and today it is in process of absorbing sellers and closed above key support at 13.25. Next few days it seems could break high point of handle at 14.59 with volume above 376,000 shares to confirm victory over short sellers and gruntled investors for longs.
I posted this on 9/9/03 but RANGY took and confused long as players were silently buying. I feel now with certainity that from today's volume and strict follower of IBD all parameters are so perfect that once pivot is taken out on Monday or Tuesday it will have smooth sailing to 20.
Tip - POG is weak in beginning of week but getting stronger by late part of week so as in morning it is weak but afternoon it is stronger.