Today we'll analyze the Stock WB for online market trading,
Technical indicators to notice:
1- Last bearish trend was from 30.72$ (03/20/08) to 25.99$ (03/28/08) a 4.73$ move
2- The current bullish trend started from 25.99$ at 03/28/08 and is currently trading at 27.21$.
3- The stock current support level is at 27.11 which is the 23.60% fibonacci retracement of the last 4.73$ move.
4- The stock current resistance level is at 27.80 which is the 38.20% fibonacci retracement of the last 4.73$ move.
5- According to ADX, the trend is currently strong bearish, which is getting stronger.
Short term chart patterns :
6- The Stock was resisted by a resistance line, identified by two points: 30.72 and 38.05, and is currently resisting at 28.6257.
Mid term chart patterns :
7- The Stock was resisted by a resistance line, identified by two points: 30.72 and 38.05, and is currently resisting at 28.6257.
Long term chart patterns :
8- The Stock was resisted by a resistance line, identified by two points: 30.72 and 38.05, and is currently resisting at 28.6257.
Conclusion:
WB was trading in a strong bearish wave, which is becoming stronger .
Technical indicators and chart patterns show no favorited direction,
recommend hold or waiting for entry .
Resistance Levels: 27.80, 28.35, 28.63, 28.91, 30.72, 32.01, 33.64.
Support Levels: 27.11, 26.92, 26.74, 26.60, 26.46, 25.99,.
We Moved!!
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Shadi
Monday, April 7, 2008
Wachovia Corporation (WB) Technical Analysis
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Shadi
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