Saturday, February 09, 2008

SLE Analysis for 02.09.2008


Bear Stearns upgraded this stock from "peer perform" to "outperform" this week. Monthly chart shows stock price has stuck in a huge trading range/consolidation since March 2000. No buy signal/pattern in sight on this timeframe. The pattern indicates more downside to come. Look for the increased selling pressure to take price down to test the $11.50 area low and lower.

Weekly chart shows the bears overcoming any early bulls, by ending the week lower. No buy pattern/signal in sight on this timeframe.

Daily chart shows price well below all key moving averages. No buy signal/pattern in place on this timeframe.

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