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Byline: Jonah Keri
Palm shot out of a deep base in the spring of 2004. The stock repeated the trick a couple of months later, rocketing 63% the week ended June 25, 2004, alone. But another breakout attempt the week ended Dec. 17 failed, as Palm reversed sharply.
The stock dropped 56% as it formed its next base, a deeper correction than you'd normally like to see. On the plus side, that decline reset Palm's base count. The stock has since climbed back to within 26% of its high. You'll want to see volume pick up as the stock forms the right side of its base.
The firm counts the Zire handheld and Treo smart phone as two of its flagship ...