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Short-covering on TZIX?
TriZetto Group Inc. (NASDAQ:TZIX) will announce its Q4 results on February 4, AMC. TZIX, after taking support at $14.5 levels in November 2007, has been on an uptrend. TZIX is one of the few stocks which has been making an upward move despite the weakness in the broad market. With an almost 10% gain made on Jan 29, the daily RSI has entered the bullish region. On January 29, TZIX displayed a classic price breakout from an inverse head and shoulders pattern with a 10% gain, accompanied by 3X average volumes - probably due to a short covering in the stock. Those who would like to enter a speculative play based on short interest need to be aware that the stock is testing a historical resistance at $20, testing the upper boundary of a possible upward moving channel, there is a divergence in the daily RSI, and it is difficult to peg a stop loss based on risk-reward ratio. A detailed and free report on TZIX incorporating both technical analysis and fundamental research is available at stocks2pick.com
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