Saturday, February 09, 2008

L-TC Update for 02.09.2008


Monthly chart shows continued weakness and selling pressure. So much for the "neutral" rating by the UBS analysts. The stock is down about $15 from their initial coverage when price was $45.35. No buy signal in sight on this timeframe.

Weekly chart shows price clearly in a down trend, and below all key moving averages. No buy signal/pattern evident on this timeframe.

Daily chart shows that the selling pressure seems to have found short term support off the 1.27 fih level. Look for possible early buyers stepping back into the stock, and a retracement of the last leg down. No clear buy signal/pattern evident on this timeframe. Look for next week's trading activity to give better sense of direction.

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