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Actionable news in ATHN: athenahealth, Inc.,

Athenahealth (ATHN) Stock Chart Improves, Boosting Our Target to 45% Upside

NEW YORK (TheStreet) -- Back on September 18, we wrote a bullish story on Athenahealth (ATHN - Get Report) , looking for an upside break out and rally to $190. We broke out today and while we haven't reached $190 yet, we can now update our charts and price targets.

In this Point and Figure chart, above, we can see the sharp run up today and the new price objective: $225.

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Note that $190 is still our price target, but now $225 is a secondary price target.

This chart, above, shows us at least two things to keep in mind when we analyze ATHN. First, we see the uptrend in the On-Balance-Volume line since 2010. Yes, there are some dips along the way, but the trend is up telling us that this stock has been under accumulation for a long time.

Second, notice the sharp run up and run down for ATHN in early 2014. The interesting thing about fast moves up is that relatively few people actually got to buy the stock on the way up. In a slow, grinding...


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