TLM-tc (Talisman Energy) Analysis for 08.26.2007

The monthly chart shows support off the .382 fib level, where buyers stepped back into stock to take price up to resistance level of the .786 fib area. The last 3 months saw sellers bringing price back down to the $18 level and prior support.

The weekly chart shows early buyers stepping back into the stock, and indicating that the hard selling has stopped for now.

The daily chart shows early buyers stepping back into the stock. Price is currently above the 8ema, but remains below the 34ema. Look for evidence of follow through buying this coming week, to take price back up. Initial resistance and target is $20.00 area.