Saturday, October 13, 2007

AEO Analysis for 10.13.2007

AMERICAN EAGLE OUTFITTERS INC.
Monthly chart shows that while the .382 fib provides initial support, it hasn't attracted many buyers.

Weekly chart shows a consolidation three wave pattern. Look for continuation of downtrend and a test of the current low at the .618 fib and .382 fib confluence area support.

Daily chart shows any buying was met with selling. Look for further weakness and lower prices

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