ZENITH NATIONAL INSURANCE CORP.
Monthly chart shows consolidation.
Weekly chart shows a bearish gartley butterfly pattern that took price to .786 fib support where buyers initially showed up.
Daily chart shows move up off the .786 fib support of $38.77 to be corrective in nature. Major resistance at the .618 fib level and the 200sma. Friday saw range expansion as sellers came out in force -- gapping down the price at the open and then closing on the low for the trading session. Look for continued weakness and lower still.
Sunday, October 21, 2007
ZNT Analysis for 10.21.2007
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