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Trends

Stock prices tend to move in trends. A stock price moving ever higher is in an uptrend (Figure 14-1). Stocks moving relentlessly lower are in downtrends (Figure 14-2). Stocks moving in a directionless pattern are in consolidation, or no trend.

Figure 14-1. Apollo Group with 200 day simple moving average. As of April 2002, Apollo had been in an uptrend for more than two years. (MSN Money chart.)



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