Saturday, August 25, 2007

CLX Analysis for 08.25.2007

The montly chart shows a potential 5 waves up into a slightly higher high at $69.36. Price action for the month of August 2007 shows a potential hammer forming off the support of the 50sma.

The weekly chart shows a 3 wave abc pattern into .786 fib level, creating a bullish butterfly pattern.

The daily chart shows a double bottom and a J hook pattern forming, with buyers stepping back intothe stock, and taking it close above both the 8ema and the 34ema.

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