Saturday, December 15, 2007

ABN Analysis for 12.15.2007

ABN Amro Holdings - ABN

Monthly chart shows weakness the last 2 months. This is one of the strongest financial stock charts out there. No strong sell signal in place as of yet.

Weekly chart shows higher high made at $55 level with divergence in the CCI momentum indicator. The last leg up into the high looks to have 5 waves complete. Small uptrend in place has now been broken. Price is currently right at a key LIS and prior s/r. Further weakness in the stock price could see a test of the $41.36 low.

Daily chart shows bears gapping down the price of the stock at the open of Friday's trading session. This created a kicker type signal indicating a dramatic change in investor sentiment. Look for continuation lower next week.

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