Will A. G. Edwards Continue Its Upside Move?

A. G. Edwards (AGE), a large national, full-service brokerage firm, is setting all-time highs. A strong upside move has pushed the stock from $38 to $54 in less than one year. But the prices chart indicates AGE may have a difficult time going higher as it makes higher lows but lower highs. This symmetrical triangle formation suggest that is difficult to know whether AGE will break to the upside or move to the downside.

Be cautious with this stock.

Posted August 19, 2006.