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For today's chart, we've chosen to look at EGO because it has broken above the upper trendline of a descending channel. This recent breakout will likely be used by the bulls to suggest a move higher. Of particular interest is how the volume spiked once the price got above the trendline. Dramatic increases in volume is one sign used by many technical traders to confirm that a given breakout is valid. We'll keep a bullish outlook on this stock until we see the bears push the price back below the trendline.


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