FLML Analysis for 10.27.2007

FLAMEL TECHNOLOGIES S.A. - FLML

Monthly chart shows abc 3 waves down into current support at the $8 level. Last month's price action indicates that the major selling has stopped. This month's price action indicates early buying.

Weekly chart shows big bullish engulfing candle pattern, indicating early buying in progress.

Daily chart shows early buying in progress. IF the current $8 low holds, THEN look for continuation higher through the important $12 key LIS. Needs to stay above the $12 level in order to see continuation higher. Aggressive early long trade - more conservative traders would look for confirmation buy signal.