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Dramatic Breakout for XTO Energy

by Sam Collins 09/17/09

XTO Energy (XTO) -- This company engages in the acquisition, development, exploitation and exploration of oil and gas properties in the United States.

From June-October 2008, XTO fell from $72 to $24. But, since October, XTO has been building a triangle base, and this week it broke from the triangle on heavy volume.

This dramatic breakout with a new Moving Average Convergence/Divergence (MACD) buy signal implies a trading target of $50.

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