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October 22, 2009 / Jeb

Taseko (TGB) Major Breakout From Rectangle Formation

Please see my previous post where I recommended readers to add to positions as Taseko reached the 50 day moving average.

Today (TGB)  made a huge breakout on great volume from a rectangle formation.  Breakouts usually continue to make the same percentage gain of the previous run.  Readers are now up 100% from my original recommendation.

Institutions are piling in to Taseko as good news and potential development of the Prosperity Mine is coming closer to fruition.

TGB

Notice from the chart how it tested the trendline and 50 day successfully and broke out on more than double average volume.  Price volume action proves that demand is exceeding supply.

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