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Monday, April 7, 2008

Limited Brands, Inc. (LTD) Technical Analysis

Today we'll analyze the Stock LTD for online market trading,
Technical indicators to notice:
1- Last bearish trend was from 19.17$ (02/01/08) to 14.51$ (03/07/08) a 4.66$ move
2- The current bullish trend started from 14.51$ at 03/07/08 and is currently trading at 18.18$.

3- The stock current support level is at 17.39 which is the 61.80% fibonacci retracement of the last 4.66$ move.
4- The stock current resistance level is at 19.17 which is the 100.00% fibonacci retracement of the last 4.66$ move.
5- According to ADX, the trend is currently strong bearish,which is becoming weaker.
Short term chart patterns :
6- The Stock was resisted by a resistance line, identified by two points: 19.17 and 20.64 that was broken up at 18.18 transforming into a supporting line.
Mid term chart patterns :
7- The Stock was resisted by a resistance line, identified by two points: 19.17 and 20.64 that was broken up at 18.18 transforming into a supporting line.
Long term chart patterns :
8- The Stock was resisted by a resistance line, identified by two points: 19.17 and 20.64 that was broken up at 18.18 transforming into a supporting line.

Conclusion:
LTD was trading in a strong bearish wave, which is becoming weaker .
Technical indicators and chart patterns show bullish direction,
recommend stopping short positions or entering long position or bullish spread options strategy .

Resistance Levels: 19.17, 20.44, 22.05.
Support Levels: 17.52, 17.39, 17.31, 16.84, 16.78, 16.35, 16.29, 15.91, 15.61, 14.51,.


That's all for today ... thanks for reading the post,
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Shadi
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We Moved!!!

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Shadi