Saturday, June 16, 2007

PALM Analysis for 06.16.2007

Monthly chart shows current resistance to be at $19.50 and support to be at $13.41.

Weekly chart shows price has found resistance at the .786 fib level.

Friday brought out the bears, as profit-taking was evident during the trading day. Look for continued weakness next week. IF there is evidence of continued weakness, THEN look for support at the .618 fib level, and then the 200sma, which also happens to be a test of the current low at $15.45.

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