Saturday, December 08, 2007

MPG Analysis for 12.09.2007

Maguire Properties Inc.

Monthly chart shows deep retracement from the high at $44.88. Support was found off the .886 fib level. Early buyers off this fib support level found resistance at the .382 fib level above. No real strong buy signal in place.

Weekly chart better shows the resistance at the .382 fib level. Buying was evident the past week.

Daily chart shows buyers stepped back into the stock at the .786 fib level. Pattern looks corrective. IF price continues upwards, THEN look for the current high at $30.40 to be resistance for now. While there is a buy signal in place, it is not a really clear one.

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