Today we'll analyze the Stock hbos for online market trading,
Technical indicators to notice:
1- Last bullish trend was from 12.01$ (02/22/08) to 12.90$ (02/29/08) a 0.89$ move
2- The current bearish trend started from 12.90$ at 02/29/08 and is currently trading at 12.19$.
3- The stock current support level is at 12.01 which is the 100.00% fibonacci retracement of the last 0.89$ move.
4- The stock current resistance level is at 12.35 which is the 61.80% fibonacci retracement of the last 0.89$ move.
5- The Stock formed Double Top Pattern at 12.9.
6- The Stock formed a 1.79$ height triangle which was broken down at 12.16, target of the pattern is 10.37.
7- According to ADX, the trend is currently strong bearish,which is becoming weaker.
Conclusion:
hbos is currently trading a strong bearish wave, which is becoming weaker .
Technical indicators and chart patterns show bearish direction,
recommend hedging long positions or entering short position or bearish spread options strategy .
Resistance Levels: 12.35, 12.36, 12.45, 12.46, 12.49, 12.54, 12.56, 12.63, 12.69, 12.90, 12.90, 12.97, 14.17.
Support Levels: 12.01, 11.77, 11.46, 10.37.
We Moved!!
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Thursday, March 20, 2008
Heritage Financial Group (HBOS) Technical Analysis
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Shadi
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