Puget Energy, Inc. (PSD) Technical Analysis

Today we'll analyze the Stock PSD for online market trading,
Technical indicators to notice:
1- Last bearish trend was from 27.86$ (12/21/07) to 25.94$ (01/25/08) a 1.92$ move
2- The current bullish trend started from 25.94$ at 01/25/08 and is currently trading at 26.44$.

3- The stock current support level is at 26.39 which is the 23.60% fibonacci retracement of the last 1.92$ move.
4- The stock current resistance level is at 26.67 which is the 38.20% fibonacci retracement of the last 1.92$ move.
5- According to ADX, the trend is currently bearish,which is becoming weaker.
Short term chart patterns :
6- The Stock formed Double Top Pattern at 27.86.
Mid term chart patterns :
7- The Stock was supported by a support line, identified by two points: 22.69 and 18.55, and is currently supporting at 24.3164.
Long term chart patterns :
8- The Stock traded in a bullish channel identifed by support at 22.69 and 18.55, resistance between 25.71 and 21.33, the channel is currently supported from below by 24.3164 and resisted from above by 27.9952.

Conclusion:
PSD was trading in a 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: 26.67, 26.90, 27.13, 27.71, 27.83, 27.86, 28.38, 29.05.
Support Levels: 26.39, 26.32, 26.25, 26.19, 26.13, 25.94, 24.32,.