Today we'll analyze the Stock MER for online market trading,
Technical indicators to notice:
1- Last bullish trend was from 43.51$ (03/14/08) to 46.85$ (03/20/08) a 3.34$ move
2- The current bearish trend started from 46.85$ at 03/20/08 and is currently trading at 40.74$.
3- According to ADX, the trend is currently strong bearish, which is getting stronger.
Short term chart patterns :
4- The Stock was resisted by a resistance line, identified by two points: 46.85 and 58.01, and is currently resisting at 43.6614.
Mid term chart patterns :
5- The Stock was resisted by a resistance line, identified by two points: 46.85 and 58.01, and is currently resisting at 43.6614.
Long term chart patterns :
6- The Stock traded in a bearish channel identifed by support at 49.95 and 52.91, resistance between 58.01 and 61.01 which was broken down at 39.93 in higher than usual volume.
Conclusion:
MER was trading in a strong bearish wave, which is becoming stronger .
Technical indicators and chart patterns show bearish direction,
recommend hedging long positions or entering short position or bearish spread options strategy .
Resistance Levels: 42.18, 43.07, 43.66, 43.79, 44.52, 45.14, 46.85.
Support Levels: .
We Moved!!
Please check our new site : The stocks profit, for
Stock Research
you can also subscribe to its RSS feeds or newsletter to get updated when new analysis is posted
GO ahead and click in!read the latest technical analyis of all the TSX, NYSE, NASDAQ, AMEX stocks and find
hot stocks
enjoy
Shadi
Stock Research
you can also subscribe to its RSS feeds or newsletter to get updated when new analysis is posted
GO ahead and click in!read the latest technical analyis of all the TSX, NYSE, NASDAQ, AMEX stocks and find
hot stocks
enjoy
Shadi
Tuesday, April 1, 2008
Merrill Lynch & Co., Inc. (MER) Technical Analysis
That's all for today ... thanks for reading the post,
come back soon for more updates,
use the search to lookup for more interesting stocks you might be interested in,
feel free to leave your comments on the post, or contact me
enjoy your online market trading!!
have a nice day,
Shadi
to get back to main page click here .
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment