Thursday, November 23, 2006

AMTD Analysis 11.23.2006


Monthly chart shows no clear signal. Small LIS at $17.67 are currently acting as resistance. IF price can climb above this LIS and have it to be support, THEN look for first tgt to be test of $19.69 high, then possible test of $26.37 high.

Weekly chart shows current support to be around $16.64 area. Buyers have been stepping back into the stock this Thanksgiving holiday week.

Daily chart shows evidence of change in investor sentiment with the bullish engulfing candle October 25th. Buyers have been stepping back into the stock. Look for initial tgt to be the 200sma .... which is in the area of the .618 fib retracement. Then if buyers are still in the stock, look for test of the current high at $19.69

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