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Watch for Shares of John Hancock Patriot Premium Dividend Fund II (PDT) to Approach Resistance at $10.32

Written on Mon, 06/28/2010 - 12:28pm
By Chip Brian

SmarTrend has detected shares of John Hancock Patriot Premium Dividend Fund II (NYSE:PDT) have bullishly opened above the pivot of $10.18 today and have reached the first resistance level of $10.28.
We are watching for a cross of the next upside pivot targets of $10.32 and $10.46. Also, the shares are currently trading above the 200-day moving average of $9.94 and should find resistance at the 50-day moving average of $10.35.
SmarTrend, our proprietary pattern recognition system, alerted subscribers to buy shares of John Hancock Patriot Premium Dividend Fund II on March 19, 2009 at $6.02. Since the call, the stock has risen 70.8%.

Keywords: john hancock patriot premium dividend fund ii pivot points

Ticker(s): PDT

Contact Chip Brian



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