Market Overview

Dex One Corporation (NYSE:DEXO) – Reversal Confirmed

Dex One Corporation (NYSE:DEXO) is a stock that I posted about last week when a possible reversal pattern was identified. In my initial post, my stock scanner identified the stock as being oversold.

The chart at the time suggested that a strong reversal pattern was about to unfold – after a long slide, the stock rallied strongly to close on the day's high of $2.01. That was the buy signal. But as I had mentioned in my initial post – that pattern needed to be confirmed by further buying.

The above updated chart now shows that the reversal has been confirmed. Since my initial post there have been two consecutive days of gains and on Friday the stock closed at $2.47.



The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

 

Most Popular

Related Articles (DEXO)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free