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Byline: JONAH KERI
The Nasdaq paused after two straight days of gains in above-average volume Wednesday, edging lower on lighter trade. The composite index fell 0.5%. The Nasdaq 100 lost 1%.
Teva Pharmaceutical Industries shed 1.17 to 46.70 on nearly twice its normal trade. The Israel-based generic drug maker broke out of its cup-without-handle base on March 19. It's since climbed 16%. When watching a stock after a breakout, keep an eye on up days vs. down days on higher or lower volume. Ideally you want a stock rising on brisk trade and easing back on light turnover.
Microstrategy, a former high-flier that tanked during the bear market, found a bottom, formed a new base and broke out Jan. 31, took a nasty tumble Wednesday. The maker of data mining software gapped down 5.26, or 16%, to 27.53. The stock traded 4.8 million shares vs. its average daily volume of just over 400,000.
After Tuesday's close, Microstrategy posted first-quarter earnings of 5 cents a share, up from an 8-cent loss during the same period last year. Revenue climbed 5% year ...