American Greetings Corp. (AM) Hanging by a Thread

American Greetings Corp. (AM) has already knocked down one support line, and with just the tiniest of moves lower this week, another one - the only other one - could be knocked down as well. If and when it goes too, the selling could further accelerate.

The first floor to fall was the rising support line; it crumbled in late December when American Greetings Corp. failed to rally and follow-through (post earnings) as it had during the prior two quarters. If horizontal support around $20.60 falls as well, there's no other likely landing spot in sight.

And just for the record, AM closed at $20.49 on Monday, and hit a low of $20.23. Prudent traders may want to wait for a retest, just to be sure any breakdown actually gets traction.