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Thursday, April 17, 2008

Applera Corporation (ABI) Technical Analysis

Today we'll analyze the Stock ABI for online market trading,
Technical indicators to notice:
1- Last bearish trend was from 33.70$ (03/26/08) to 29.52$ (04/15/08) a 4.18$ move
2- The current bullish trend started from 29.52$ at 04/15/08 and is currently trading at 30.87$.

3- The stock current support level is at 30.51 which is the 23.60% fibonacci retracement of the last 4.18$ move.
4- The stock current resistance level is at 31.12 which is the 38.20% fibonacci retracement of the last 4.18$ move.
5- According to ADX, the trend is currently bearish, which is getting stronger.furthermore, the ADX location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
Short term chart patterns :

6- The Stock was resisted by a resistance line, identified by two points: 33.7 and 34.04, and is currently resisting at 33.1333.
Mid term chart patterns :

7- The Stock was resisted by a resistance line, identified by two points: 34.65 and 37.05, and is currently resisting at 33.7929.
Long term chart patterns :

8- The Stock formed a 9.17$ height triangle.

Conclusion:
ABI was trading in a bearish wave, which is becoming stronger .
Technical indicators and chart patterns show highly volatile movements favoriting no favorited direction,
recommend hold or waiting for entry , because of the high expected future volatility, consider constructing symmetrical options strategies for buying volatility through strangles or straddles.
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Resistance Levels: 31.12, 31.61, 32.10, 32.12, 33.12, 33.13, 33.70, 33.79, 34.84, 36.28, 37.79, 37.81, 37.83, 37.85, 37.87, 37.89, 37.91.
Support Levels: 30.55, 30.51, 30.35, 30.20, 30.04, 29.52,.


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Shadi
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We Moved!!!

Please check our new site : The stocks profit, for
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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
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enjoy
Shadi