Wednesday, August 15, 2007

PFE Analysis for 08.15.2007

Monthly chart shows a bearish consolidation pattern. Price is currently below all key moving averages. Look for more downside movement, with a test of the current low at the $20.30 area.

The weekly chart shows more clearly the corrective nature of the pattern. A break of the current support at $23.30ish will initially target the .786 fib area at $22. Then look for a test of the lows and lower.

The daily chart shows price trending below all key moving averages, with the 34ema as resistance.

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