Sunday, December 16, 2007

AEG Analysis for 12.16.2007

Aegon Insurance Group - AEG

Monthly chart shows an abc 3 wave pattern into the $22 area high. The last 2 months saw profit-taking near the highs. We now have a lower high in place, but support is right below us at the key LIS and prior resistance of $16.23.

Weekly chart shows a head and shoulder pattern in place. Last week's price action created a bearish engulfing candle pattern. IF the neckline breaks, THEN look for move much lower.

Daily chart shows a bear flag/pennant continuation pattern in place. Look for lower next week.

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