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what the charts say

Weyerhaeuser Co. had a major rise from $18.60 to $33.24 (solid line 2012-2013) and settled in a bullish "triangle formation", made up of lower highs and higher lows. This, when preceded by a rise, usually resolves with a continuation of the previous trend. The stock did exactly that: it had an up-side breakout (A) to signal renewed investor interest and the resumption of the long-term up-trend (solid line – 2014). Current prices should provide a good entry point. Only a sustained decline below $33.50 would be negative. Point & Figure measurements provide targets of $39 and $44. Higher targets are visible.

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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