Monthly chart shows strong uptrend in place. Look for signs of exuberant buying higher and then look for signs of weakness for the reversal.
Weekly chart shows that sellers were overcome by buyers last week, with a gap up and strong close.
Panic selling led to gap down to the $68.21 area where buyers came back strongly, taking stock to new highs. Initial upside target is the 1.27 fib level of $80.00. Watch for upside continuation next week.
Saturday, December 09, 2006
SIAL Analysis for 12.09.2006
Posted by TraderZ at 12/09/2006 07:04:00 PM
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment