Friday, April 27, 2007

SPF Analysis for 04.27.2007

Monthly chart shows current support off the .618 fib area, and also 89sma. Price action for monthof April shows bullish harami developing, indicating that the selling has eased for now.

Weekly chart shows small double bottom, with early buyers steping back into the stock. However, this week's price action was unable to close above the 8ema.

Buyers gapped up the stock at the open, and found resistance off the .382 fib level and also small LIS at the $23.91 area. Profit taking during the day resulted in price closing below all major moving averages.

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