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Following our first recommendation on SXC Health Solutions Corp. (Dec. 6, 2008, $9.68 – adjusted for two-for-one split), the stock started a sharp rise above its rising 40-week moving average and reached $62.64 (A) for a 547-per-cent appreciation at that time. Subsequently, SXC declined below its 40wMA (B) and settled in a trading range between $45 and $62 (dashed lines). Recent price action to $66.37 (C) signalled the breakout from the large range and the start of a new upleg. Only a decline below about $56 would be negative.

Point & Figure measurements provide initial targets of $74 and $84.

Monica Rizk is the senior technical analyst for Phases & Cycles Inc. ( Ron Meisels is a contributor to the www. web site. They may hold shares in companies profiled. Please see the site for a glossary.

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About the Authors
Senior Technical Analyst at Phases & Cycles Inc.

Monica Rizk, Senior Technical Analyst, has a Bachelor's degree in Business Administration and completed the Canadian Securities Institute course. She has been with Phases & Cycles since September 2000 and specializes in the research of Canadian and US stocks using Point & Figure as well as bar chart analysis. More

President of Phases & Cycles Inc.

Ron Meisels, President, Phases & Cycles Inc., has been active as an Analyst since 1971. He was Vice President and Director of Technical Research of Nesbitt Thomson (now BMO Nesbitt Burns) from 1982 to 1990. He was ranked among the top three technical analysts by Canadian Institutions for six consecutive years (Brendan Wood Survey). More

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