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Technical analysis shows the scientific measurement company is set to rise (iStockphoto)

Technical analysis shows the scientific measurement company is set to rise

(iStockphoto)

What the Charts Say

Bullish on Agilent Add to ...

Agilent Technologies declined from $55.33 (U.S.) to $30.22 (A-B), settled in a trading range mostly between $30 and $40 (2011), and then rallied and stayed in another range between $35 and $45 (2012-2013). This price action produced a bullish technical pattern known as a Duplex Horizontal (dashed lines). The recent rise to $47.47 (C) signalled the breakout and the start of a new up-leg. Current levels provide an attractive entry level. Only a decline below $40-$41 would be negative.

Point & Figure measurements provide targets of $54 and $59. The large Duplex Horizontal formation (dashed lines) supports higher targets.

Monica Rizk is the senior technical analyst for Phases & Cycles Inc. (www.phases-cycles.com). Ron Meisels is a contributor to the www.NA-marketletter.com website and Tweets at @Ronsbriefs. They may hold shares in companies profiled. Please see the site for a glossary.

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