Thursday, November 23, 2006

RMBS Analysis 11.23.2006

Current support now the $16.00 area. Buyers slowly back into stock. Look for an abc type of wave pattern into the .618 to .786 fib level .

Last was a strong week as buyers stepped back into stock. Current week, the same investors/tradrs took profits. So long as the $19.70 area holds as support, we can expect stock to go higher.

Kicker signal indicated change in investor sentiment last week. Price went right through prior resistance at $19.70 area. Expect this level to be support, in order for price to continue higher.

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