Saturday, April 21, 2007

AMTD Update 04212007

Investors reacted to the earnings news by gapping price down to test the prior low and support area. The following day,the last of the sellers sold, and early buyers stepped back into the stock, after another gap down, but quickly regaining some of the lost ground, creating a piercing pattern. This showed that investor sentiment has changed.

So long as the current support at $14.67 holds, the bullish gartley butterfly pattern is still valid, with an upside target of $17.82 and then $18.67

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