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Thursday, March 20, 2008

Guess?, Inc. (GES) Technical Analysis

Today we'll analyze the Stock ges for online market trading,
Technical indicators to notice:
1- Last bullish trend was from 33.33$ (03/17/08) to 35.72$ (03/18/08) a 2.39$ move
2- The current bearish trend started from 35.72$ at 03/18/08 and is currently trading at 34.17$.

3- The stock current support level is at 33.33 which is the 100.00% fibonacci retracement of the last 2.39$ move.
4- The stock current resistance level is at 34.24 which is the 61.80% fibonacci retracement of the last 2.39$ move.
5- The Stock was resisted by a resistance line, identified by two points: 35.72 and 37.33, and is currently resisting at 35.1833.
6- According to ADX, the trend is currently bearish, which is getting stronger.furthermore, the ADX location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.

Conclusion:
ges is currently trading a bearish wave, which is becoming stronger .
Technical indicators and chart patterns show highly volatile movements favoriting no favorited direction,
recommend hold or waiting for entry , because of the high expected future volatility, consider constructing symmetrical options strategies for buying volatility through strangles or straddles.
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Resistance Levels: 34.24, 34.53, 34.54, 34.76, 34.81, 34.94, 35.13, 35.16, 35.18, 35.72, 35.72.
Support Levels: 33.33, 32.68, 31.85,.


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Shadi
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We Moved!!!

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