Wednesday, December 06, 2006

NETL Analysis for 12.06.2006

Monthly chart shows abc 3 wave correction pattern into .707 fib level for support. November ended in a bullish harami, indicating that buyers slowly moving back into stock.

Upside resistance currently at the 34ema and 89sma level above.

Short term support off the $20.50 area. Buyers coming back into stock. Look for follow through tomorrow.

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