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Monday, March 24, 2008

AFLAC Incorporated (AFL) Technical Analysis

Today we'll analyze the Stock AFL for online market trading,
Technical indicators to notice:
1- Last bearish trend was from 63.20$ (02/22/08) to 61.21$ (03/14/08) a 1.99$ move
2- The current bullish trend started from 61.21$ at 03/14/08 and is currently trading at 64.15$.

3- The stock current support level is at 63.74 which is the 127.20% fibonacci retracement of the last 1.99$ move.
4- The stock current resistance level is at 64.43 which is the 161.80% fibonacci retracement of the last 1.99$ move.
5- According to ADX, the trend is currently bullish,which is becoming weaker.
6- Bearish Divergance in MACD.
Short term chart patterns :
7- The Stock formed a 5.66$ height triangle which was broken up at 64.15 in higher than usual volume, target of the pattern is 69.81.
Mid term chart patterns :
8- The Stock traded in a bullish channel identifed by support at 59.37 and 42.13, resistance between 65.03 and 47.32, the channel is currently supported from below by 61.4388 and resisted from above by 67.0425.
Long term chart patterns :
9- The Stock was supported by a support line, identified by two points: 42.13 and 34.35, and is currently supporting at 51.6013.

Conclusion:
AFL was trading in a bullish wave, which is becoming weaker .
Technical indicators and chart patterns show no favorited direction,
recommend hold or waiting for entry .

Resistance Levels: 64.43, 69.81.
Support Levels: 63.74, 63.46, 63.20, 63.03, 62.68, 62.44, 62.33, 62.21, 61.98, 61.97, 61.68, 61.21,.


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We Moved!!!

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you can also subscribe to its RSS feeds or newsletter to get updated when new analysis is posted
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Shadi