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For today's chart we've chosen to take a look at Allstate Corp. (NYSE:ALL) because it recently bounced off the resistance of a descending trendline. As you can see from the chart below, the sloping trendline has prevented the bulls from pushing the price higher in the past and we expect that this story will continue. This chart is a good example of how to connect a series of decreasing highs and how it is used to provide a clearer perspective on the direction of the primary trend. We'll maintain a bearish outlook on this stock until the price is able to move above the trendline. We believe that many traders will set their target prices near the March low of $44.56.

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