IRIS Analysis for 11.18.2007

IRIS INTERNATIONAL INC. - IRIS

Monthly chart shows price has retraced to the .618 fib of the last move down. The $21 area is currently resistance.

Weekly chart better shows the move up off the $7.80 support low. Buyers came back into the stock last week, creating a bullish engulfing candle bullish pattern.

Daily chart shows 5 waves down into the $15.50 area support, where buyers stepped back into the stock, creating a morning star bullish candle pattern right at the 200sma. IF we have 5 waves down, THEN look for a 3 wave abc pattern into the .618 and higher.