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Thursday, April 17, 2008

Abn Amro Holding N.v. (ABN) Technical Analysis

Today we'll analyze the Stock ABN for online market trading,
Technical indicators to notice:
1- Last bearish trend was from 57.17$ (01/31/08) to 54.65$ (02/08/08) a 2.52$ move
2- The current bullish trend started from 54.65$ at 02/08/08 and is currently trading at 61.42$.

3- According to ADX, the trend is currently strong bullish,which is becoming weaker.
4- Bearish Divergance in MACD.
Short term chart patterns :

5- The Stock was supported by a support line, identified by two points: 54.65 and 52.72 that was broken down at 60.64 transforming into a resistance line.
Mid term chart patterns :

6- The Stock was resisted by a resistance line, identified by two points: 49.8 and 51.18 that was broken up at 46.83 transforming into a supporting line.
Long term chart patterns :

7- The Stock traded in a bullish channel identifed by support at 43 and 24.13, resistance between 51.18 and 28.51, the channel is currently supported from below by 53.6463 and resisted from above by 64.9727.

Conclusion:
ABN was trading in a strong bullish 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: 61.48.
Support Levels: 59.82, 58.83, 58.03, 57.24, 54.92, 54.65, 51.66, 51.57, 51.47, 45.73, 45.65, 45.63, 25.43, 24.30,.


That's all for today ... thanks for reading the post,
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have a nice day,

Shadi
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We Moved!!!

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you can also subscribe to its RSS feeds or newsletter to get updated when new analysis is posted
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hot stocks
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Shadi