Monthly chart shows a possible wave 4 pattern. We have a move up off the $2.90 low into .382 fib high in a 3 wave pattern. The price action and pattern looks corrective. The $21.31 high is current resistance. Support is directly below at the key LIS of $17.67.
The weekly chart shows a 3 wave pattern (AB=CD) into .618 fib. The 2 spinning tops/doji type candles show indecision at the .618 fib resistance leve. This past week's price action took the close below the key LIS of $19.80.
The daily chart shows sellers gapping the price down at the open on Friday. Price is currently trading below the 8ema and the 34ema. Look for support at the 200sma and .618 fib level of $17.50ish.
Saturday, July 21, 2007
AMTD Analysis for 07.21.2007
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