Saturday, July 05, 2008

HOLX Update for 07.05.2008


Monthly chart shows price to be below all key moving averages. No buy signal/pattern evident on this timeframe at this time.

Weekly chart shows that early bulls stepped back into the stock but were unable to take it much higher, as they were met with resistance and selling by bears. Currently price is below all key moving averages on this timeframe. The bears have also taken back more than 50% of the gains made since the low of May 2008. Look for consolidation before lower.

Daily chart shows a consolidation pattern being formed. Once this pattern is completed, look for new low to be made. No buy signal/pattern evident on this timeframe, and stock remains bearish.

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