Tuesday, December 19, 2006

PACT Analysis for 12.19.2006

Monthly chart shows current support to be at a .707 fib level ... $4.26 area. Resistance above is at the $6.40 range. Price needs to clear that to see higher prices. Price has been stuck in trading range since December 2002.

Last 3 weeks has brought out early buyers... showing that $4.25 area is support short term.

Buyers came out with strength today, as they managed to close above the prior resistance level at $5.13 area. Look for continuation upwards for remainder of week, with first upside tgt to be the resistance level at the $6.50 area, which also happens to be the 200sma.

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