MER Analysis for 11.04.2007

MERRILL LYNCH & CO. INC - MER

Monthly chart shows uptrend line broken, indicating trend has now changed from up to down. price currently trading below all key moving averages and below key LIS of $65.75. No buy signal in sight as of yet.

Weekly chart shows a possible 3 wave pattern into .618 fib support. However, price remains well below all key moving averages.

Daily chart shows a kicker signal showing investor sentiment turned very bearish on Thursday, when sellers in a hurry to get out of the stock, gapped down the open and closed it on its lows for the trading day. Friday saw more selling as they gapped it down and took price lower, where early buyers stepped in at the .618 fib level. Tim Seymour went long MER late Friday, and is looking to exit on Monday. No buy signs on any of the three timeframe charts for now.