ESTEE LAUDER COMPANIES INC - EL
Monthly chart shows price to be stuck in a large trading range. We currently have an abc 3 wave pattern into $52.60 area high.
Weekly chart shows resistance at the .618 fib level of $47.15 where sellers came out in force.
Daily chartshows 5 waves up into $47 area high. The move up is corrective in appearance. Look for further weakness in price.
Saturday, November 03, 2007
EL Analysis for 11.03.2007
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