EMC CORP. - EMC
Monthly chart shows a 3 wave abc pattern into the current high of $$25.55. There has been nothing but selling the past 4 months. Key LIS of $15.80 did not hold as support - "old resistance becomes new support". Price needs to stay above this level for bulls to gain any traction to the upside. No buy signal/pattern evident on this timeframe.
Weekly chart shows price below all key moving averages. Last week's price action continues to show weakness to the downside. No buy signal/pattern evident on this timeframe.
Daily chart shows price below all key moving averages. No buy signal/pattern evident on this timeframe. Look for continued weakness.
Sunday, February 24, 2008
EMC Analysis for 02.24.2008
Posted by TraderZ at 2/24/2008 07:38:00 PM
Labels: EMC
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